Everbridge (EVBG) Lowered to “Sell” at Zacks Investment Research

Everbridge (NASDAQ:EVBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

Several other equities research analysts have also weighed in on EVBG. BidaskClub lowered shares of Everbridge from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. SunTrust Banks upped their target price on shares of Everbridge to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Stephens started coverage on shares of Everbridge in a report on Thursday, January 3rd. They issued an “overweight” rating and a $70.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Everbridge in a report on Wednesday, February 6th. They issued a “neutral” rating and a $69.00 target price on the stock. Finally, Canaccord Genuity upped their target price on shares of Everbridge from $57.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $62.77.

EVBG opened at $74.37 on Wednesday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.35 and a current ratio of 1.35. Everbridge has a twelve month low of $34.76 and a twelve month high of $74.55. The stock has a market capitalization of $2.41 billion, a PE ratio of -52.01 and a beta of 1.02.

Everbridge (NASDAQ:EVBG) last posted its earnings results on Thursday, February 21st. The technology company reported ($0.28) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. Everbridge had a negative net margin of 32.30% and a negative return on equity of 81.85%. The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $41.04 million. Analysts expect that Everbridge will post -1.48 earnings per share for the current year.

In related news, SVP Elliot J. Mark sold 6,000 shares of the company’s stock in a transaction dated Thursday, January 3rd. The shares were sold at an average price of $53.04, for a total transaction of $318,240.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP James Totton sold 749 shares of the company’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $52.71, for a total transaction of $39,479.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,866 shares of company stock worth $29,519,199. 11.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Everbridge by 281.6% during the 4th quarter. Bank of Montreal Can now owns 706 shares of the technology company’s stock worth $40,000 after buying an additional 521 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in Everbridge by 32.7% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,029 shares of the technology company’s stock worth $115,000 after buying an additional 500 shares in the last quarter. Quantbot Technologies LP lifted its position in Everbridge by 127.7% during the 3rd quarter. Quantbot Technologies LP now owns 2,332 shares of the technology company’s stock worth $134,000 after buying an additional 1,308 shares in the last quarter. Macquarie Group Ltd. acquired a new position in Everbridge during the 4th quarter worth about $156,000. Finally, Advisors Asset Management Inc. acquired a new position in Everbridge during the 3rd quarter worth about $210,000. Institutional investors and hedge funds own 94.37% of the company’s stock.

About Everbridge

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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