StockNews.com Initiates Coverage on Everbridge (NASDAQ:EVBG)

Stock analysts at StockNews.com began coverage on shares of Everbridge (NASDAQ:EVBG) in a report issued on Wednesday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other research analysts also recently issued reports on EVBG. Needham & Company LLC restated a “hold” rating on shares of Everbridge in a research report on Monday, May 13th. Robert W. Baird boosted their price target on shares of Everbridge from $29.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $29.75.

Everbridge Stock Performance

Shares of Everbridge stock opened at $35.00 on Wednesday. The firm has a market capitalization of $1.46 billion, a PE ratio of -22.44, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.03. The firm’s 50 day moving average is $34.85 and its 200 day moving average is $32.24. Everbridge has a 1 year low of $18.50 and a 1 year high of $36.31.

Everbridge (NASDAQ:EVBG) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.21). Everbridge had a positive return on equity of 5.26% and a negative net margin of 11.67%. The business had revenue of $111.43 million for the quarter, compared to analyst estimates of $111.90 million. Equities research analysts forecast that Everbridge will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Everbridge news, insider Bryan Reed Barney sold 3,276 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $34.99, for a total transaction of $114,627.24. Following the sale, the insider now directly owns 18,569 shares of the company’s stock, valued at $649,729.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Everbridge

Institutional investors and hedge funds have recently modified their holdings of the company. Gabelli Funds LLC bought a new position in shares of Everbridge in the first quarter worth approximately $15,842,000. Norges Bank purchased a new stake in shares of Everbridge during the fourth quarter valued at approximately $7,016,000. Kent Lake Capital LLC purchased a new stake in Everbridge in the fourth quarter worth $6,078,000. Harber Asset Management LLC lifted its stake in Everbridge by 49.4% in the fourth quarter. Harber Asset Management LLC now owns 554,932 shares of the technology company’s stock worth $13,490,000 after acquiring an additional 183,471 shares during the period. Finally, Vanguard Group Inc. lifted its position in Everbridge by 2.9% during the third quarter. Vanguard Group Inc. now owns 5,797,576 shares of the technology company’s stock valued at $129,982,000 after buying an additional 164,788 shares during the period. 89.95% of the stock is owned by hedge funds and other institutional investors.

About Everbridge

Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables 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.