Everbridge (EVBG) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Everbridge (NASDAQ:EVBG) announced its quarterly earnings data on Tuesday. The technology company reported ($0.28) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.01, Morningstar.com reports. Everbridge had a negative net margin of 32.30% and a negative return on equity of 77.46%. The company had revenue of $41.83 million during the quarter, compared to analysts’ expectations of $41.04 million.

Shares of NASDAQ:EVBG traded up $1.50 during midday trading on Thursday, hitting $69.45. 26,819 shares of the company’s stock traded hands, compared to its average volume of 369,722. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -48.57 and a beta of 0.97. Everbridge has a twelve month low of $31.25 and a twelve month high of $71.61.

Several analysts have recently issued reports on EVBG shares. Zacks Investment Research raised shares of Everbridge from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Stephens started coverage on shares of Everbridge in a research note on Thursday, January 3rd. They set an “overweight” rating and a $70.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Everbridge in a research note on Tuesday, November 6th. BidaskClub raised shares of Everbridge from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Finally, JPMorgan Chase & Co. started coverage on shares of Everbridge in a research note on Wednesday, February 6th. They set a “neutral” rating and a $69.00 price objective for the company. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Everbridge presently has a consensus rating of “Buy” and an average price target of $62.77.

In other Everbridge news, EVP James Totton sold 749 shares of the business’s stock in a transaction on Monday, December 17th. The shares were sold at an average price of $52.71, for a total value of $39,479.79. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Imad Mouline sold 3,000 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $64.67, for a total transaction of $194,010.00. The disclosure for this sale can be found here. Insiders have sold a total of 545,566 shares of company stock worth $30,602,017 in the last 90 days. Company insiders own 11.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Everbridge by 14.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,263,119 shares of the technology company’s stock worth $72,807,000 after buying an additional 162,373 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Everbridge by 42.1% in the 3rd quarter. AQR Capital Management LLC now owns 15,155 shares of the technology company’s stock worth $874,000 after purchasing an additional 4,493 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Everbridge in the 3rd quarter worth about $8,153,000. Capital Research Global Investors bought a new stake in shares of Everbridge in the 3rd quarter worth about $53,806,000. Finally, Cowbird Capital LP bought a new stake in shares of Everbridge in the 4th quarter worth about $3,951,000. Hedge funds and other institutional investors own 93.37% of the company’s stock.

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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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Earnings History for Everbridge (NASDAQ:EVBG)

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