Everbridge (NASDAQ:EVBG) had its price objective increased by Raymond James from $70.00 to $82.00 in a research report sent to investors on Tuesday, May 7th, The Fly reports. Raymond James currently has an outperform rating on the technology company’s stock.
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, Canaccord Genuity restated a buy rating and set a $85.00 target price (up from $75.00) on shares of Everbridge in a report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus 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. The firm had revenue of $42.82 million during the quarter, compared to the consensus estimate of $42.23 million. Everbridge had a negative return on equity of 52.04% and a negative net margin of 30.93%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) EPS. As a group, equities research analysts predict that Everbridge will post -1.41 earnings per share for the current fiscal year.
In other news, 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 transaction of $120,675.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $22,561,650.00. 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.
Hedge funds and other institutional investors have recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its position in Everbridge by 68.1% during the first quarter. Rehmann Capital Advisory Group now owns 1,716 shares of the technology company’s stock worth $129,000 after purchasing an additional 695 shares in the last quarter. Metropolitan Life Insurance Co NY boosted its position in Everbridge by 6.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,147 shares of the technology company’s stock worth $686,000 after purchasing an additional 572 shares in the last quarter. Select Equity Group L.P. boosted its position in Everbridge by 37.2% during the first quarter. Select Equity Group L.P. now owns 441,282 shares of the technology company’s stock worth $33,101,000 after purchasing an additional 119,658 shares in the last quarter. Sylebra HK Co Ltd purchased a new stake in Everbridge during the first quarter worth $17,522,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Everbridge during the first quarter worth $203,000. 96.93% of the stock is currently owned by institutional investors and hedge funds.
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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