Zacks Investment Research cut shares of Everbridge (NASDAQ:EVBG) from a strong-buy rating to a sell rating in a research report report published on Tuesday.
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 topic of several other research reports. ValuEngine upgraded Everbridge from a sell rating to a hold rating in a research note on Monday, September 18th. Northland Securities reiterated a buy rating and issued a $33.00 target price on shares of Everbridge in a research note on Friday, November 10th. Needham & Company LLC lifted their target price on Everbridge from $28.00 to $32.00 and gave the company a buy rating in a research note on Tuesday, November 7th. KeyCorp lifted their target price on Everbridge from $27.00 to $30.00 and gave the company an overweight rating in a research note on Tuesday, November 7th. Finally, BidaskClub lowered Everbridge from a hold rating to a sell rating in a research note on Thursday, December 7th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Everbridge presently has a consensus rating of Buy and a consensus target price of $31.33.
Everbridge (NASDAQ EVBG) traded up $0.48 on Tuesday, reaching $32.24. The company’s stock had a trading volume of 405,172 shares, compared to its average volume of 320,262. Everbridge has a 52 week low of $16.63 and a 52 week high of $32.25. The stock has a market capitalization of $897.37, a price-to-earnings ratio of -53.73 and a beta of 1.99.
Everbridge (NASDAQ:EVBG) last posted its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. Everbridge had a negative return on equity of 29.44% and a negative net margin of 17.10%. The company had revenue of $27.31 million for the quarter, compared to analyst estimates of $26.41 million. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. The firm’s quarterly revenue was up 37.0% compared to the same quarter last year. equities analysts anticipate that Everbridge will post -0.55 EPS for the current year.
In other news, CEO Jaime Wallace Ellertson sold 97,500 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $26.43, for a total transaction of $2,576,925.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Elliot J. Mark sold 1,000 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $27.76, for a total value of $27,760.00. The disclosure for this sale can be found here. Insiders have sold 154,253 shares of company stock worth $4,167,996 in the last 90 days. Insiders own 41.40% of the company’s stock.
Several hedge funds have recently modified their holdings of EVBG. Vanguard Group Inc. lifted its holdings in shares of Everbridge by 115.8% during the second quarter. Vanguard Group Inc. now owns 696,917 shares of the technology company’s stock worth $16,977,000 after purchasing an additional 373,899 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Everbridge during the third quarter worth about $16,417,000. Nicholas Investment Partners LP lifted its holdings in shares of Everbridge by 21.7% during the third quarter. Nicholas Investment Partners LP now owns 530,969 shares of the technology company’s stock worth $14,028,000 after purchasing an additional 94,790 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Everbridge during the second quarter worth about $11,771,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Everbridge during the third quarter worth about $12,288,000. Institutional investors and hedge funds own 65.40% of the company’s stock.
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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.
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