Everbridge (NASDAQ:EVBG)‘s stock had its “buy” rating reiterated by investment analysts at Bank of America in a research note issued on Thursday. They presently have a $38.00 price target on the technology company’s stock, up from their prior price target of $30.00. Bank of America’s price objective indicates a potential upside of 19.50% from the stock’s current price.
EVBG has been the topic of a number of other research reports. Needham & Company LLC raised their price target on shares of Everbridge from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Everbridge from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Friday, November 10th. Canaccord Genuity restated a “buy” rating and set a $33.00 price target (up previously from $28.00) on shares of Everbridge in a report on Tuesday, November 7th. Stifel Nicolaus restated a “buy” rating and set a $33.00 price target on shares of Everbridge in a report on Thursday, January 11th. Finally, Credit Suisse Group restated an “outperform” rating and set a $30.00 price target (up previously from $26.50) on shares of Everbridge in a report on Friday, November 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $36.56.
Everbridge (EVBG) opened at $31.80 on Thursday. The firm has a market cap of $892.60 and a price-to-earnings ratio of -44.79. Everbridge has a twelve month low of $16.63 and a twelve month high of $34.75.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $29.18 million for the quarter, compared to the consensus estimate of $28.49 million. Everbridge had a negative net margin of 18.82% and a negative return on equity of 36.15%. Everbridge’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. equities analysts forecast that Everbridge will post -0.39 earnings per share for the current year.
In related news, CEO Jaime Wallace Ellertson sold 97,500 shares of Everbridge stock in a transaction on Monday, November 27th. The shares were sold at an average price of $26.43, for a total value of $2,576,925.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Imad Mouline sold 6,986 shares of Everbridge stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $28.50, for a total transaction of $199,101.00. The disclosure for this sale can be found here. Insiders sold a total of 148,028 shares of company stock worth $4,128,849 in the last quarter. Insiders own 41.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fred Alger Management Inc. raised its holdings in Everbridge by 40.1% in the 4th quarter. Fred Alger Management Inc. now owns 1,665,161 shares of the technology company’s stock worth $49,489,000 after acquiring an additional 476,782 shares during the period. BlackRock Inc. increased its holdings in shares of Everbridge by 29.0% during the 4th quarter. BlackRock Inc. now owns 1,158,361 shares of the technology company’s stock worth $34,426,000 after purchasing an additional 260,224 shares during the period. Garelick Capital Partners LP increased its holdings in shares of Everbridge by 138.3% during the 4th quarter. Garelick Capital Partners LP now owns 952,826 shares of the technology company’s stock worth $28,318,000 after purchasing an additional 552,958 shares during the period. Vanguard Group Inc. increased its holdings in shares of Everbridge by 115.8% during the 2nd 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. Finally, Driehaus Capital Management LLC increased its holdings in shares of Everbridge by 41.5% during the 4th quarter. Driehaus Capital Management LLC now owns 633,280 shares of the technology company’s stock worth $18,821,000 after purchasing an additional 185,731 shares during the period. Hedge funds and other institutional investors own 74.00% of the company’s stock.
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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.
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