Credit Suisse Group Reiterates “Outperform” Rating for Everbridge, Inc. (EVBG)

Everbridge, Inc. (NASDAQ:EVBG)‘s stock had its “outperform” rating reissued by research analysts at Credit Suisse Group in a research note issued on Friday. They currently have a $30.00 target price on the technology company’s stock, up from their prior target price of $26.50. Credit Suisse Group’s target price indicates a potential upside of 15.07% from the company’s previous close.

EVBG has been the topic of a number of other reports. Zacks Investment Research lowered shares of Everbridge from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Needham & Company LLC lifted their target price on shares of Everbridge from $28.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 7th. William Blair reaffirmed a “buy” rating on shares of Everbridge in a research note on Monday, September 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $33.00 target price (up from $28.00) on shares of Everbridge in a research note on Tuesday, November 7th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $31.00 target price (up from $28.00) on shares of Everbridge in a research note on Friday, October 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Everbridge has a consensus rating of “Buy” and an average target price of $31.00.

Everbridge (EVBG) opened at $26.07 on Friday. Everbridge has a 52-week low of $14.26 and a 52-week high of $29.99.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $27.31 million for the quarter, compared to analyst estimates of $26.41 million. Everbridge had a negative net margin of 17.10% and a negative return on equity of 29.44%. Everbridge’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. analysts predict that Everbridge will post -0.55 earnings per share for the current year.

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In other news, insider R William Burgess, Jr. sold 23,244 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $22.56, for a total value of $524,384.64. Following the sale, the insider now directly owns 45,165 shares of the company’s stock, valued at approximately $1,018,922.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Elliot J. Mark sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $27.76, for a total transaction of $27,760.00. The disclosure for this sale can be found here. Insiders have sold 83,051 shares of company stock worth $2,073,584 over the last ninety days. 41.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Everbridge by 196.3% in the 2nd quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock valued at $107,000 after acquiring an additional 2,885 shares during the period. American International Group Inc. acquired a new position in shares of Everbridge in the first quarter valued at approximately $108,000. Fortaleza Asset Management Inc. acquired a new position in shares of Everbridge in the second quarter valued at approximately $166,000. Nationwide Fund Advisors grew its holdings in shares of Everbridge by 210.1% in the second quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock valued at $234,000 after purchasing an additional 6,497 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Everbridge in the second quarter valued at approximately $288,000. 54.44% of the stock is currently owned by institutional investors and hedge funds.

Everbridge Company Profile

Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its 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.

Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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