Several brokerages have updated their recommendations and price targets on shares of Everbridge (NASDAQ: EVBG) in the last few weeks:

  • 8/10/2019 – Everbridge was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $97.00 price target on the 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. “
  • 8/7/2019 – Everbridge was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 8/6/2019 – Everbridge had its price target raised by analysts at Raymond James from $82.00 to $100.00. They now have an “outperform” rating on the stock.
  • 8/6/2019 – Everbridge had its price target raised by analysts at JPMorgan Chase & Co. from $75.00 to $93.00. They now have a “neutral” rating on the stock.
  • 8/6/2019 – Everbridge had its “buy” rating reaffirmed by analysts at Stephens. They now have a $98.00 price target on the stock. They wrote, “We assume coverage with an Overweight/Volatile rating and a $98 PT. Everbridge is lower in pre-market trading as a mixed 2Q19 report failed to meet high expectations of investors (EVBG ran +21% into earnings) who were likely expecting nothing short of a clean quarter. Concerns surrounding deferred revenue was the main point of contention (declined ~$0.4 mil. from 1Q), though a muted revenue beat ($48.4 mil. vs. Street $48.0 mil.) and 3Q19 outlook ($51.5 mil. vs. Street $51.4 mil.) did not help matters either. That said, we believe this is the entry point investors have been waiting for, as we expect CEM suite wins to re-accelerate (from 8 in 2Q19), driving improved bookings ahead of on-going catalysts (EU PAS upgrade, NC4 acquisition, and Federal).””
  • 7/15/2019 – Everbridge was given a new $98.00 price target on by analysts at Stephens. They now have a “buy” rating on the stock.
  • 7/12/2019 – Everbridge was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/2/2019 – Everbridge was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 6/26/2019 – Everbridge was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/21/2019 – Everbridge had its price target raised by analysts at Northland Securities from $83.00 to $105.00. They now have an “outperform” rating on the stock.
  • 6/21/2019 – Everbridge had its price target raised by analysts at Canaccord Genuity from $85.00 to $105.00. They now have a “buy” rating on the stock.
  • 6/20/2019 – Everbridge had its price target raised by analysts at SunTrust Banks, Inc. to $100.00. They now have a “positive” rating on the stock.
  • 6/20/2019 – Everbridge had its price target raised by analysts at Credit Suisse Group AG from $85.00 to $100.00. They now have an “outperform” rating on the stock.
  • 6/20/2019 – Everbridge had its price target raised by analysts at Robert W. Baird from $85.00 to $100.00. They now have an “outperform” rating on the stock.
  • 6/20/2019 – Everbridge had its “hold” rating reaffirmed by analysts at KeyCorp. They wrote, “We came away from management discussions with an upward bias to the 2020 consensus growth estimate of 30% growth vs. 40% actual last quarter.””
  • 6/20/2019 – Everbridge had its price target raised by analysts at Bank of America Corp from $85.00 to $102.00. They now have a “buy” rating on the stock.
  • 6/20/2019 – Everbridge had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $100.00 price target on the stock, up previously from $85.00.
  • 6/20/2019 – Everbridge had its price target raised by analysts at Stifel Nicolaus from $91.00 to $100.00.

Shares of EVBG traded up $0.23 during trading hours on Thursday, reaching $79.98. 300,796 shares of the company’s stock traded hands, compared to its average volume of 532,166. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -55.93 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.42 and a quick ratio of 2.42. Everbridge Inc has a twelve month low of $41.94 and a twelve month high of $104.22. The stock has a fifty day simple moving average of $94.13.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Monday, August 5th. The technology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The company had revenue of $48.40 million for the quarter, compared to analyst estimates of $47.99 million. Everbridge had a negative return on equity of 41.46% and a negative net margin of 25.85%. The company’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period last year, the company earned ($0.18) earnings per share. On average, research analysts forecast that Everbridge Inc will post -1.37 earnings per share for the current fiscal year.

In related news, SVP Elliot J. Mark sold 3,559 shares of Everbridge stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $85.02, for a total transaction of $302,586.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Totton sold 21,875 shares of Everbridge stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $94.15, for a total value of $2,059,531.25. The disclosure for this sale can be found here. Insiders have sold 429,594 shares of company stock worth $36,509,978 over the last three months. Corporate insiders own 2.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Everbridge by 52.1% during the second quarter. Vanguard Group Inc. now owns 3,144,174 shares of the technology company’s stock worth $281,152,000 after acquiring an additional 1,077,481 shares during the period. BlackRock Inc. boosted its position in shares of Everbridge by 29.5% in the 2nd quarter. BlackRock Inc. now owns 2,596,838 shares of the technology company’s stock valued at $232,209,000 after purchasing an additional 591,681 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Everbridge by 31.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 837,692 shares of the technology company’s stock valued at $74,907,000 after purchasing an additional 200,911 shares during the period. Sylebra Capital Ltd boosted its position in shares of Everbridge by 251.5% in the 2nd quarter. Sylebra Capital Ltd now owns 821,140 shares of the technology company’s stock valued at $73,426,000 after purchasing an additional 587,542 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Everbridge by 1,126.2% in the 2nd quarter. Invesco Ltd. now owns 707,005 shares of the technology company’s stock valued at $63,220,000 after purchasing an additional 649,349 shares during the period. 98.81% of the stock is currently owned by hedge funds and other institutional investors.

Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that 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 that 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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