Goldman Sachs analyst Gabriela Borges maintains $EverCommerce (EVCM.US)$ with a sell rating, and adjusts the target price from $8.5 to $9.
According to TipRanks data, the analyst has a success rate of 58.0% and a total average return of 7.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $EverCommerce (EVCM.US)$'s main analysts recently are as follows:
Post Q3 results and confirmation of FY24 guidance, it's observed that EverCommerce's pro forma revenue growth slowed to 4.3% compared to 6% in the prior quarter. This deceleration is largely due to ongoing sluggishness in the marketing technology sector, which is anticipated to experience negative growth for the year. The primary areas of interest for the stock are expected to be the normalized growth and margins stemming from the business optimization and transformation initiatives slated for 2024.
The stable small business purchasing environment and improving sales cycles are said to pave a more optimistic path forward for EverCommerce.
The company has reported strong results in comparison to expectations within what management describes as a stable demand environment. The belief is that the company has the foundational elements in place to achieve increased revenue growth and improved margins by 2025.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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