Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $63.00 price objective on the technology company’s stock.
According to Zacks, “Everbridge, Inc. is a software company which provides communications and enterprise safety applications. The company’s applications include Mass Notification, Incident Management, IT Alerting, Safety Connection(TM), Community Engagement(TM), Secure Messaging and Internet of Things. It operates primarily in Boston, Los Angeles, San Francisco, Beijing and London. Everbridge, Inc. is based in Burlington, United States. “
EVBG has been the topic of a number of other research reports. Credit Suisse Group lifted their price target on Everbridge from $56.00 to $58.00 and gave the company an outperform rating in a report on Tuesday, August 7th. Robert W. Baird began coverage on Everbridge in a report on Monday, October 22nd. They set an outperform rating and a $60.00 price target on the stock. BidaskClub downgraded Everbridge from a buy rating to a hold rating in a report on Thursday, October 4th. Northland Securities reiterated a buy rating and set a $55.00 price target on shares of Everbridge in a report on Tuesday, August 7th. Finally, William Blair reiterated an outperform rating on shares of Everbridge in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $54.70.
Everbridge (NASDAQ:EVBG) last issued its earnings results on Monday, November 5th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. The business had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $38.09 million. Everbridge had a negative return on equity of 70.30% and a negative net margin of 32.34%. The company’s quarterly revenue was up 42.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. As a group, research analysts expect that Everbridge will post -1.44 EPS for the current fiscal year.
In related news, EVP James Totton sold 16,418 shares of Everbridge stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $59.66, for a total transaction of $979,497.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert W. Hughes sold 23,700 shares of Everbridge stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $60.68, for a total value of $1,438,116.00. The disclosure for this sale can be found here. Insiders have sold 73,931 shares of company stock worth $4,345,834 in the last quarter. 11.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Everbridge by 34.6% during the second quarter. BlackRock Inc. now owns 1,600,912 shares of the technology company’s stock valued at $75,914,000 after purchasing an additional 411,577 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Everbridge during the second quarter valued at $353,000. Moody Aldrich Partners LLC acquired a new stake in Everbridge during the second quarter valued at $4,125,000. Kavi Asset Management LP acquired a new stake in Everbridge during the second quarter valued at $7,917,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Everbridge during the second quarter valued at $1,390,000. 92.40% of the stock is owned by hedge funds and other institutional investors.
Everbridge Company Profile
Everbridge, Inc operates as a software company in the United States, Sweden, England, and China. The company offers Critical Event Management, a SaaS-based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification, which enables enterprises and governmental entities to send notifications to individuals or groups to keep them informed before, during, and after natural or man-made disasters, and other emergencies; Safety Connection that enables organizations to send notifications based on last known location of an individual; Incident Management, which enables organizations to automate workflows and make their communications relevant; and IT Alerting that enables IT professionals to alert and communicate with members of their teams during an IT incident or outage.
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