Everbridge (NASDAQ:EVBG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
A number of other equities analysts have also recently commented on EVBG. BidaskClub cut shares of Everbridge from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Bank of America reiterated a “buy” rating and issued a $38.00 target price (up previously from $30.00) on shares of Everbridge in a research report on Thursday, February 22nd. KeyCorp reiterated a “buy” rating and issued a $39.00 target price (up previously from $37.00) on shares of Everbridge in a research report on Wednesday, February 21st. Credit Suisse Group reiterated an “outperform” rating and issued a $38.00 target price (up previously from $37.00) on shares of Everbridge in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $38.00 target price (up previously from $33.00) on shares of Everbridge in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Everbridge currently has an average rating of “Buy” and a consensus target price of $36.56.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Wednesday, February 21st. The technology company reported ($0.02) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The firm had revenue of $29.18 million for the quarter, compared to analysts’ expectations of $28.49 million. Everbridge had a negative net margin of 18.82% and a negative return on equity of 33.84%. The business’s quarterly revenue was up 37.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. equities analysts forecast that Everbridge will post -1.43 earnings per share for the current year.
In related news, SVP Elliot J. Mark sold 2,500 shares of Everbridge stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $30.79, for a total value of $76,975.00. The sale was disclosed in a legal filing 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, April 2nd. The shares were sold at an average price of $35.79, for a total transaction of $35,790.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,576 shares of company stock worth $2,036,340. 41.40% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund increased its position in shares of Everbridge by 31.9% in the third quarter. New York State Common Retirement Fund now owns 64,463 shares of the technology company’s stock valued at $1,703,000 after acquiring an additional 15,603 shares during the period. Granahan Investment Management Inc. MA purchased a new position in shares of Everbridge in the third quarter valued at about $5,296,000. Chartwell Investment Partners LLC purchased a new position in shares of Everbridge in the fourth quarter valued at about $1,435,000. Swiss National Bank purchased a new position in shares of Everbridge in the fourth quarter valued at about $1,144,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Everbridge in the third quarter valued at about $845,000. Hedge funds and other institutional investors own 79.51% of the company’s stock.
Everbridge, Inc operates as a software company in the United States, Sweden, England, and China. The company offers Critical Event Management, a SaaS-based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification, which 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, which 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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