Everbridge (NASDAQ:EVBG) PT Raised to $40.00

Everbridge (NASDAQ:EVBG) had its price objective hoisted by Canaccord Genuity from $33.00 to $40.00 in a report published on Thursday, February 22nd. They currently have a buy rating on the technology company’s stock.

Several other research analysts have also commented on the stock. Credit Suisse Group reiterated an outperform rating and set a $30.00 price objective (up previously from $26.50) on shares of Everbridge in a research note on Friday, November 17th. BidaskClub lowered shares of Everbridge from a hold rating to a sell rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Everbridge from a hold rating to a buy rating and set a $31.00 price objective for the company in a research note on Friday, November 10th. KeyCorp reiterated a buy rating and set a $39.00 price objective (up previously from $37.00) on shares of Everbridge in a research note on Wednesday, February 21st. Finally, Bank of America reiterated a buy rating and set a $38.00 price objective (up previously from $30.00) on shares of Everbridge in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $36.56.

Everbridge stock traded down $0.55 during trading hours on Thursday, hitting $36.34. 294,845 shares of the stock traded hands, compared to its average volume of 309,515. Everbridge has a twelve month low of $18.87 and a twelve month high of $38.78. The company has a debt-to-equity ratio of 1.60, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market cap of $1,049.19, a price-to-earnings ratio of -51.91 and a beta of 1.42.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $29.18 million during the quarter, compared to analyst estimates of $28.49 million. Everbridge had a negative net margin of 18.82% and a negative return on equity of 33.84%. Everbridge’s revenue was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. sell-side analysts expect that Everbridge will post -1.43 EPS for the current fiscal year.

In other news, SVP Elliot J. Mark sold 958 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $34.78, for a total value of $33,319.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth S. Goldman sold 10,326 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $29.51, for a total transaction of $304,720.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,028 shares of company stock worth $1,670,778. 41.40% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Ironwood Investment Management LLC purchased a new stake in shares of Everbridge in the 4th quarter valued at $226,000. Nationwide Fund Advisors boosted its holdings in shares of Everbridge by 210.1% in the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock valued at $234,000 after acquiring an additional 6,497 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Everbridge in the 4th quarter valued at $234,000. UBS Asset Management Americas Inc. purchased a new stake in shares of Everbridge in the 4th quarter valued at $247,000. Finally, MetLife Investment Advisors LLC purchased a new stake in shares of Everbridge in the 4th quarter valued at $248,000. 79.48% of the stock is currently owned by institutional investors and hedge funds.

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About Everbridge

Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.

Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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