Goldman Sachs raised the firm’s price target on EverCommerce (EVCM) to $9 from $8.50 but keeps a Sell rating on the shares after its Q3 results and affirmed FY24 guidance. The company’s pro forma revenue growth decelerated to 4.3% vs. 6% last quarter driven by continued weakness in marketing tech, which is now expected to show negative growth for the year, with the key focus for the stock seen coming from normalized growth and margins following the 2024 business optimization and transformation initiatives, the analyst tells investors in a research note.
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Read More on EVCM:
- EverCommerce price target raised to $14 from $12 at RBC Capital
- EverCommerce price target raised to $11 from $10 at Piper Sandler
- EverCommerce price target raised to $15 from $12 at JMP Securities
- EverCommerce price target raised to $13 from $12 at Oppenheimer
- EverCommerce price target raised to $12 from $9 at Barclays
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