Everbridge Inc (NASDAQ:EVBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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 brokerages also recently weighed in on EVBG. Canaccord Genuity reissued a “buy” rating and issued a $22.00 price objective on shares of Everbridge in a research note on Wednesday, February 1st. Stifel Nicolaus raised their price objective on Everbridge from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.50.
Everbridge (NASDAQ:EVBG) traded up 3.85% during midday trading on Monday, hitting $20.48. The company had a trading volume of 338,101 shares. Everbridge has a one year low of $11.76 and a one year high of $20.95. The company’s 50 day moving average is $18.62 and its 200-day moving average is $17.31. The company’s market cap is $556.01 million.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Monday, February 27th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $21.30 million for the quarter, compared to analysts’ expectations of $20.64 million. The firm’s revenue was up 31.5% on a year-over-year basis. On average, equities analysts predict that Everbridge will post ($0.32) EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of EVBG. Nicholas Investment Partners LP increased its position in shares of Everbridge by 85.9% in the fourth quarter. Nicholas Investment Partners LP now owns 428,645 shares of the company’s stock worth $7,908,000 after buying an additional 198,015 shares during the last quarter. Arrowpoint Asset Management LLC increased its position in shares of Everbridge by 28.8% in the fourth quarter. Arrowpoint Asset Management LLC now owns 353,205 shares of the company’s stock worth $6,517,000 after buying an additional 78,913 shares during the last quarter. Fred Alger Management Inc. increased its position in shares of Everbridge by 28.9% in the fourth quarter. Fred Alger Management Inc. now owns 282,810 shares of the company’s stock worth $5,218,000 after buying an additional 63,434 shares during the last quarter. Monashee Investment Management LLC bought a new position in shares of Everbridge during the third quarter worth $3,732,000. Finally, Putnam Investments LLC increased its position in shares of Everbridge by 30.6% in the fourth quarter. Putnam Investments LLC now owns 106,231 shares of the company’s stock worth $1,960,000 after buying an additional 24,893 shares during the last quarter. 24.16% of the stock is currently owned by institutional investors and hedge funds.
Everbridge, Inc is a global enterprise software company that provides applications, which automate the delivery of information to help keep people safe and businesses running. During critical business events or man-made or natural disasters, over 3,000 global customers rely on the Everbridge platform to construct and deliver contextual notifications to millions of people at one time.
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