Everbridge (EVBG) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. Zacks Investment Research currently has $63.00 price target 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. “

EVBG has been the topic of several other research reports. William Blair reissued an outperform rating on shares of Everbridge in a report on Tuesday, November 6th. BidaskClub raised Everbridge from a hold rating to a buy rating in a report on Saturday, November 10th. Robert W. Baird initiated coverage on Everbridge in a report on Monday, October 22nd. They issued an outperform rating and a $60.00 price target on the stock. Northland Securities reissued a buy rating and issued a $55.00 price target on shares of Everbridge in a report on Tuesday, August 7th. Finally, Credit Suisse Group raised their price target on Everbridge from $56.00 to $58.00 and gave the stock an outperform rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Everbridge presently has a consensus rating of Buy and an average price target of $54.70.

Shares of EVBG opened at $51.67 on Wednesday. The company has a market capitalization of $1.58 billion, a PE ratio of -90.65 and a beta of 1.59. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.95. Everbridge has a 52 week low of $26.30 and a 52 week high of $63.00.

Everbridge (NASDAQ:EVBG) last issued its earnings results on Monday, November 5th. The technology company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. The company had revenue of $38.90 million during the quarter, compared to analyst estimates of $38.09 million. Everbridge had a negative return on equity of 70.30% and a negative net margin of 32.34%. The business’s revenue was up 42.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. Equities analysts expect that Everbridge will post -1.44 earnings per share for the current year.

In other Everbridge news, CFO Kenneth S. Goldman sold 2,638 shares of Everbridge stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $60.56, for a total transaction of $159,757.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jaime Wallace Ellertson sold 6,943 shares of Everbridge stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $60.76, for a total value of $421,856.68. The disclosure for this sale can be found here. Insiders have sold a total of 73,931 shares of company stock worth $4,345,834 in the last ninety days. 11.20% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in EVBG. Massachusetts Financial Services Co. MA raised its stake in Everbridge by 18.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 315,768 shares of the technology company’s stock valued at $14,974,000 after acquiring an additional 50,186 shares in the last quarter. Wells Fargo & Company MN raised its stake in Everbridge by 41.5% during the 2nd quarter. Wells Fargo & Company MN now owns 154,657 shares of the technology company’s stock valued at $7,334,000 after acquiring an additional 45,348 shares in the last quarter. Jennison Associates LLC bought a new stake in Everbridge during the 2nd quarter valued at $9,675,000. Sei Investments Co. raised its stake in Everbridge by 294.6% during the 2nd quarter. Sei Investments Co. now owns 46,234 shares of the technology company’s stock valued at $2,193,000 after acquiring an additional 34,517 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Everbridge during the 2nd quarter valued at $353,000. 92.40% of the stock is currently owned by hedge funds and other institutional investors.

Everbridge Company Profile

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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