EverCommerce downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded EverCommerce (EVCM) to Underweight from Equal Weight with an unchanged price target of $11. Despite a recovery in the small business market, EverCommerce’s revenue growth has been slowing and retention rates have been declining, the analyst tells investors in a research note. Further, private equity firms PSG and Silver Lake own more than 80% of the shares, which could be a share overhang that limits float and liquidity, adds Barclays.