Everbridge (EVBG) Price Target Raised to $75.00

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Everbridge (NASDAQ:EVBG) had its target price raised by equities research analysts at Canaccord Genuity from $57.00 to $75.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 8.92% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Everbridge from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Tuesday, December 25th. Stephens started coverage on shares of Everbridge in a report on Thursday, January 3rd. They set an “overweight” rating and a $70.00 target price for the company. SunTrust Banks raised their target price on shares of Everbridge to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 2nd. BidaskClub upgraded shares of Everbridge from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Finally, William Blair restated an “outperform” rating on shares of Everbridge in a report on Tuesday, November 6th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $62.77.

Shares of Everbridge stock traded up $0.91 on Wednesday, hitting $68.86. The company had a trading volume of 10,055 shares, compared to its average volume of 369,722. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $1.91 billion, a PE ratio of -47.96 and a beta of 0.97. Everbridge has a 52 week low of $31.25 and a 52 week high of $71.61.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Tuesday, February 19th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. The business had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $41.04 million. Everbridge had a negative net margin of 32.30% and a negative return on equity of 77.46%. On average, analysts forecast that Everbridge will post -1.17 earnings per share for the current fiscal year.

In related news, SVP Imad Mouline sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $55.39, for a total value of $166,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Totton sold 20,916 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $62.52, for a total transaction of $1,307,668.32. The disclosure for this sale can be found here. Insiders sold a total of 545,566 shares of company stock valued at $30,602,017 in the last ninety days. Company insiders own 11.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Amalgamated Bank purchased a new stake in Everbridge in the 4th quarter worth approximately $221,000. Macquarie Group Ltd. purchased a new stake in Everbridge in the 4th quarter worth approximately $156,000. Potrero Capital Research LLC purchased a new stake in Everbridge in the 4th quarter worth approximately $1,419,000. Legal & General Group Plc lifted its position in Everbridge by 17.1% in the 4th quarter. Legal & General Group Plc now owns 5,045 shares of the technology company’s stock worth $287,000 after buying an additional 736 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in Everbridge by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,575 shares of the technology company’s stock worth $487,000 after buying an additional 6,697 shares in the last quarter. 93.37% 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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Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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