Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a hold rating to a buy rating in a report released on Saturday morning, Zacks.com reports. They currently have $97.00 target price 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. “
Other analysts have also issued reports about the company. Bank of America boosted their price objective on Everbridge from $85.00 to $102.00 and gave the stock a buy rating in a report on Thursday, June 20th. Needham & Company LLC reissued a buy rating and set a $100.00 price objective (up from $85.00) on shares of Everbridge in a report on Thursday, June 20th. SunTrust Banks boosted their price objective on Everbridge to $100.00 and gave the stock a positive rating in a report on Thursday, June 20th. BidaskClub lowered Everbridge from a strong-buy rating to a buy rating in a report on Wednesday, August 7th. Finally, Credit Suisse Group upped their target price on Everbridge from $85.00 to $100.00 and gave the company an outperform rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Everbridge has a consensus rating of Buy and a consensus price target of $100.00.
Everbridge (NASDAQ:EVBG) last issued its quarterly earnings data on Monday, August 5th. The technology company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. The firm had revenue of $48.40 million during 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 revenue for the quarter was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) EPS. On average, analysts expect that Everbridge will post -1.37 earnings per share for the current year.
In other news, insider Robert W. Hughes sold 19,278 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $102.93, for a total value of $1,984,284.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Elliot J. Mark sold 3,559 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $85.02, for a total value of $302,586.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 429,594 shares of company stock valued at $36,509,978. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of Everbridge by 17.1% during the fourth quarter. Legal & General Group Plc now owns 5,045 shares of the technology company’s stock valued at $287,000 after purchasing an additional 736 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Everbridge during the fourth quarter valued at about $156,000. Amalgamated Bank bought a new stake in shares of Everbridge during the fourth quarter valued at about $221,000. Geode Capital Management LLC raised its stake in shares of Everbridge by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 302,277 shares of the technology company’s stock valued at $17,156,000 after purchasing an additional 21,656 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Everbridge during the first quarter valued at about $1,680,000. 98.81% of the stock is owned by 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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