Everbridge (NASDAQ:EVBG)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a report released on Tuesday, May 7th, The Fly reports. They presently have a $85.00 price objective on the technology company’s stock, up from their previous price objective of $75.00. Canaccord Genuity’s price target would indicate a potential upside of 5.89% from the company’s previous close.
A number of other brokerages have also recently commented on EVBG. Zacks Investment Research upgraded Everbridge from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of Everbridge in a report on Tuesday, May 7th. Stephens restated a “buy” rating and set a $74.00 target price on shares of Everbridge in a report on Monday, May 6th. Finally, BidaskClub upgraded Everbridge from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 5th. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Everbridge currently has an average rating of “Buy” and an average price target of $76.00.
Shares of NASDAQ:EVBG traded down $1.99 during midday trading on Tuesday, reaching $80.27. 332,232 shares of the company’s stock were exchanged, compared to its average volume of 480,482. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -56.13 and a beta of 0.93. Everbridge has a fifty-two week low of $41.94 and a fifty-two week high of $85.14.
Everbridge (NASDAQ:EVBG) last issued its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. Everbridge had a negative return on equity of 52.04% and a negative net margin of 30.93%. The firm had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.23 million. During the same period last year, the company earned ($0.17) EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, equities research analysts predict that Everbridge will post -1.41 earnings per share for the current fiscal year.
In other news, CEO Jaime Wallace Ellertson sold 277,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $81.45, for a total transaction of $22,561,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Elliot J. Mark sold 1,609 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $75.00, for a total value of $120,675.00. The disclosure for this sale can be found here. Insiders sold a total of 350,865 shares of company stock valued at $28,110,914 in the last quarter. Company insiders own 2.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVBG. Strs Ohio acquired a new position in Everbridge during the first quarter worth approximately $30,000. Bank of Montreal Can increased its position in Everbridge by 281.6% during the fourth quarter. Bank of Montreal Can now owns 706 shares of the technology company’s stock worth $40,000 after buying an additional 521 shares during the period. Advisor Group Inc. increased its position in Everbridge by 32.3% during the first quarter. Advisor Group Inc. now owns 1,193 shares of the technology company’s stock worth $90,000 after buying an additional 291 shares during the period. SG Americas Securities LLC acquired a new position in Everbridge during the first quarter worth approximately $104,000. Finally, Resources Investment Advisors Inc. increased its position in Everbridge by 32.7% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,029 shares of the technology company’s stock worth $115,000 after buying an additional 500 shares during the period. 96.93% of the stock is currently owned by institutional investors.
Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that 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 that 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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