Shares of EverCommerce Inc. (NASDAQ:EVCM) have received a consensus rating of “Hold” from nine brokerages covering the company, as reported by MarketBeat. The analysts’ sentiment reflects a mix of opinions, with three issuing a sell rating, two opting for a hold, three recommending a buy, and one advocating for a strong buy. The average price target over the next twelve months is set at $11.00, indicating cautious optimism among financial analysts.
Recent Analyst Ratings and Price Targets
Several noteworthy assessments have emerged from analysts regarding EverCommerce. On October 14, 2023, Lake Street Capital maintained its price target of $11.00. Meanwhile, Weiss Ratings reiterated a “sell (d-)” rating on October 8, 2023. In a more positive outlook, Piper Sandler increased its price target from $9.00 to $10.00 on August 8, 2023, while giving the stock a “neutral” rating. Conversely, Barclays lowered its expectations from $11.00 to $10.00 with an “underweight” rating, noted in their report on November 10, 2023. Oppenheimer provided an optimistic view by reiterating an “outperform” rating and raising its target price from $12.00 to $13.00 on August 7, 2023.
Insider Transactions and Institutional Investments
Recent insider activity has drawn attention, with Matthew David Feierstein, President of EverCommerce, selling 25,000 shares on November 3, 2023, at an average price of $11.38. This transaction totaled approximately $284,500, resulting in a 1.15% decrease in his ownership, leaving him with 2,148,295 shares valued at around $24.4 million.
Similarly, Eric Richard Remer, the company’s CEO, sold 5,666 shares on November 5, 2023, fetching an average price of $11.37, amounting to approximately $64,422. Following this sale, Remer holds 2,973,524 shares, valued at about $33.8 million, marking a 0.19% decrease in his stake. Over the past ninety days, insiders have sold a total of 229,200 shares valued at roughly $2.6 million. Insiders collectively own 10.40% of EverCommerce’s stock.
Institutional investors have also made notable adjustments to their holdings. Prudential Financial Inc. increased its stake in EverCommerce by 9.6% during the second quarter, now owning 13,546 shares worth approximately $142,000. In the third quarter, Federated Hermes Inc. raised its position by 118.3%, acquiring an additional 1,667 shares to reach a total of 3,076 shares, valued at around $34,000.
Additionally, American Century Companies Inc. grew its holdings by 19.8% in the second quarter, owning 27,649 shares valued at about $290,000. Deutsche Bank AG also increased its shares by 141.9% in the first quarter, now holding 9,836 shares, worth approximately $99,000. The State of Alaska Department of Revenue entered the scene by purchasing a new stake valued at about $91,000. Institutional investors and hedge funds now control 97.91% of EverCommerce’s stock.
EverCommerce Inc. specializes in providing integrated software-as-a-service solutions tailored for service-based small and medium-sized businesses, both in the United States and internationally. Their offerings encompass business management software, billing and payment solutions, customer experience tools, and marketing technology solutions.
The latest updates indicate a landscape of mixed analyst sentiments and active insider transactions, highlighting the ongoing interest in EverCommerce’s performance as it navigates the market.
