EverCommerce price target lowered to $12 from $13 at Oppenheimer

Oppenheimer lowered the firm’s price target on EverCommerce (EVCM) to $12 from $13 and keeps an Outperform rating on the shares. The firm notes EverCommerce exceeded consensus estimates in its Q4 results and is showing signs of improvement in its key metrics, including record EBITDA margin, strong cash generation, and good momentum with payments adoption within the installed base. While EverCommerce faces low investor sentiment over limited trading volume, the business is executing well on its transformation and optimization strategy and plans to sell the slower growth and lower margin Marketing and Technology solutions business, Oppenheimer adds.