EverCommerce downgraded to Market Perform from Outperform at Citizens

Citizens downgraded EverCommerce (EVCM) to Market Perform from Outperform without a price target The firm views the company’s Q4 report as mixed with the first year-over-year payments revenue decline since EverCommerce went public in July 2021, the analyst tells investors in a research note. Citizens now thinks the core payments thesis “will be an uphill climb over the medium term.”