Canaccord Lifts PT on EverCommerce Inc. (EVCM) Following Q1 Results

EverCommerce Inc. (NASDAQ:EVCM) is one of the best small cap tech stocks to buy according to hedge funds. Canaccord lifted the price target on EverCommerce Inc. (NASDAQ:EVCM) to $13 from $12 on May 11, maintaining a Buy rating on the shares. The firm updated its model on the stock after its fiscal Q1 results, which were, although modestly ahead of guidance on the headline numbers, failed to fully address more fundamental questions about the trajectory of the underlying business.

In its financial results for fiscal Q1 2026, EverCommerce Inc. (NASDAQ:EVCM) reported $147.5 million in revenue from continuing operations, reflecting an increase of 3.6% compared to $142.3 million for the quarter ended March 31, 2025. Pro forma revenue rose 3.0% to $147.5 million, compared to $143.2 million for the quarter ended March 31, 2025. Management further reported that subscription and transaction fees revenue from continuing operations was $142.1 million, up 3.1% compared to $137.8 million for the quarter ended March 31, 2025.

EverCommerce Inc. (NASDAQ:EVCM) provides integrated, vertically-tailored software-as-a-service solutions for service-based small and medium-sized businesses. The company’s operations are divided into the United States and International geographical segments.

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