Everbridge, Inc. (NASDAQ:EVBG) shares rose 7.4% on Monday after Stifel Nicolaus raised their price target on the stock from $27.00 to $30.00. Stifel Nicolaus currently has a buy rating on the stock. Everbridge traded as high as $25.75 and last traded at $25.25. Approximately 648,532 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 344,120 shares. The stock had previously closed at $23.50.
EVBG has been the subject of several other research reports. SunTrust Banks, Inc. initiated coverage on shares of Everbridge in a report on Monday, June 26th. They issued a “buy” rating and a $32.00 target price for the company. Canaccord Genuity upped their target price on shares of Everbridge from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, August 4th. KeyCorp reaffirmed a “buy” rating and issued a $27.00 target price on shares of Everbridge in a report on Sunday, September 10th. Northland Securities initiated coverage on shares of Everbridge in a report on Wednesday, August 30th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Everbridge from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $26.09.
In other news, SVP Gary R. Phillips sold 15,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $22.04, for a total transaction of $330,600.00. Following the sale, the senior vice president now directly owns 1,045 shares in the company, valued at approximately $23,031.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruns H. Grayson sold 10,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $22.07, for a total transaction of $220,700.00. Following the sale, the director now owns 26,082 shares in the company, valued at $575,629.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,423 shares of company stock worth $6,737,473. Corporate insiders own 41.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. purchased a new stake in shares of Everbridge during the 2nd quarter valued at about $2,706,000. Teachers Advisors LLC purchased a new stake in shares of Everbridge during the 4th quarter valued at about $180,000. Driehaus Capital Management LLC purchased a new stake in shares of Everbridge during the 1st quarter valued at about $3,670,000. KAMES CAPITAL plc purchased a new stake in shares of Everbridge during the 2nd quarter valued at about $613,000. Finally, Gradient Investments LLC raised its position in shares of Everbridge by 3.3% during the 2nd quarter. Gradient Investments LLC now owns 18,017 shares of the technology company’s stock valued at $439,000 after buying an additional 576 shares in the last quarter. Hedge funds and other institutional investors own 51.22% of the company’s stock.
The stock’s 50 day moving average is $23.43 and its 200 day moving average is $21.34. The firm’s market cap is $709.40 million.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $25.00 million for the quarter, compared to analyst estimates of $24.49 million. Everbridge had a negative net margin of 16.72% and a negative return on equity of 26.39%. Everbridge’s revenue was up 34.4% compared to the same quarter last year. On average, equities analysts anticipate that Everbridge, Inc. will post ($0.28) earnings per share for the current fiscal year.
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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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