Raymond James downgraded EverCommerce Inc. (NASDAQ:EVCM) to Market Perform from Outperform on January 6. The firm did not set a new price target. It noted the stock had gained 15% over the past six months and that further growth potential appears limited. Raymond James cited the company's liquidity profile and substantial insider ownership as primary headwinds.
Also on January 6, RBC Capital analyst Matthew Hedberg shifted his rating on EverCommerce from Outperform to Sector Perform. He maintained a $12 price target on the shares. RBC Capital stated the stock is now fairly valued following a 50% rally from its November lows. The firm expects limited short-term growth and said the company's internal optimization strategies need more time to show measurable results.
Earlier, for the third quarter of 2025, EverCommerce reported total revenue of $147.5 million. This represented a 5.3% increase compared to the same period last year and was within the company's projected guidance. The performance was driven by core SaaS revenue, which grew by over 8%. Subscription and transaction revenue specifically accounted for $142.2 million of the total, marking a 4.4% year-over-year increase.
EverCommerce Inc., together with its subsidiaries, provides integrated SaaS solutions for service-based small and medium-sized businesses in the United States and internationally.