Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a sell rating to a hold rating in a report published on Thursday.
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 subject of several other reports. Stephens initiated coverage on shares of Everbridge in a research report on Thursday, January 3rd. They set an overweight rating and a $70.00 price objective for the company. William Blair reaffirmed an outperform rating on shares of Everbridge in a research report on Tuesday, November 6th. BidaskClub raised shares of Everbridge from a hold rating to a buy rating in a research report on Saturday, November 10th. SunTrust Banks lifted their price objective on shares of Everbridge to $65.00 and gave the stock a buy rating in a research report on Wednesday, January 2nd. Finally, Robert W. Baird initiated coverage on shares of Everbridge in a research report on Monday, October 22nd. They set an outperform rating and a $60.00 price objective for the company. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $56.17.
EVBG stock traded down $0.05 during midday trading on Thursday, hitting $56.94. The company’s stock had a trading volume of 10,210 shares, compared to its average volume of 427,554. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.95. Everbridge has a 52-week low of $29.56 and a 52-week high of $63.00. The stock has a market capitalization of $1.69 billion, a PE ratio of -100.14 and a beta of 1.05.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings data on Monday, November 5th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.05. The business had revenue of $38.90 million during the quarter, compared to analysts’ expectations of $38.09 million. Everbridge had a negative net margin of 32.34% and a negative return on equity of 70.30%. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. Analysts expect that Everbridge will post -1.44 EPS for the current fiscal year.
In related news, CFO Kenneth S. Goldman sold 815 shares of Everbridge stock in a transaction on Monday, October 15th. The shares were sold at an average price of $48.58, for a total transaction of $39,592.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Elliot J. Mark sold 6,000 shares of Everbridge stock in a transaction on Thursday, January 3rd. The shares were sold at an average price of $53.04, for a total transaction of $318,240.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,590 shares of company stock worth $27,768,796 over the last quarter. 11.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of EVBG. Capital Research Global Investors acquired a new position in Everbridge in the third quarter valued at $53,806,000. Rehmann Capital Advisory Group acquired a new position in Everbridge in the third quarter valued at $8,153,000. BlackRock Inc. increased its stake in Everbridge by 34.6% in 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 period. Millennium Management LLC acquired a new position in Everbridge in the second quarter valued at $13,495,000. Finally, Morgan Stanley increased its stake in Everbridge by 279.2% in the third quarter. Morgan Stanley now owns 356,257 shares of the technology company’s stock valued at $20,534,000 after purchasing an additional 262,312 shares during the period. Institutional investors own 90.83% of the company’s stock.
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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