EverCommerce downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital analyst Matthew Hedberg downgraded EverCommerce (EVCM) to Sector Perform from Outperform with an unchanged price target of $12. RBC says that with the shares up 50% from their lows in November, it sees the stock as fairly valued with limited room for upside over the near term. It will will take time for EverCommerce’s efforts around optimization to show tangible results, the analyst tells investors in a research note.