Everbridge (EVBG) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a hold rating to a buy rating in a research report report published on Friday morning. The brokerage currently has $66.00 price objective on the technology company’s stock.
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 research firms have also issued reports on EVBG. William Blair restated an outperform rating on shares of Everbridge in a research report on Tuesday. BidaskClub lowered Everbridge from a buy rating to a hold rating in a research report on Thursday, October 4th. Robert W. Baird assumed coverage on Everbridge in a research report on Monday, October 22nd. They issued an outperform rating and a $60.00 price target for the company. Credit Suisse Group upped their price target on Everbridge from $56.00 to $58.00 and gave the company an outperform rating in a research report on Tuesday, August 7th. Finally, Northland Securities restated a buy rating and issued a $55.00 price target on shares of Everbridge in a research report on Tuesday, August 7th. Thirteen research analysts have rated the stock with a buy rating, The stock has a consensus rating of Buy and an average price target of $55.00.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, November 5th. The technology company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. Everbridge had a negative return on equity of 67.58% and a negative net margin of 32.34%. The business had revenue of $38.90 million during the quarter, compared to analysts’ expectations of $38.09 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The business’s revenue was up 42.5% compared to the same quarter last year. As a group, research analysts anticipate that Everbridge will post -1.44 EPS for the current fiscal year.
In related news, Director Kent Mathy sold 33,190 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $47.43, for a total value of $1,574,201.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert W. Hughes sold 23,700 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $60.68, for a total value of $1,438,116.00. The disclosure for this sale can be found here. Insiders sold 107,621 shares of company stock valued at $5,964,846 over the last 90 days. Company insiders own 11.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. purchased a new position in Everbridge in the third quarter worth approximately $236,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Everbridge by 197.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,767 shares in the last quarter. Cannell Peter B & Co. Inc. acquired a new position in Everbridge during the third quarter worth $244,000. Oppenheimer Asset Management Inc. acquired a new position in Everbridge during the second quarter worth $238,000. Finally, Teacher Retirement System of Texas acquired a new position in Everbridge during the second quarter worth $244,000. Institutional investors own 88.96% 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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