Everbridge (NASDAQ:EVBG) had its price target increased by investment analysts at Raymond James from $70.00 to $82.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Raymond James’ price target indicates a potential upside of 6.88% from the company’s previous close.
Several other analysts have also weighed in on EVBG. Zacks Investment Research raised Everbridge from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. BidaskClub raised Everbridge from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 5th. JPMorgan Chase & Co. initiated coverage on Everbridge in a research note on Wednesday, February 6th. They issued a “neutral” rating and a $69.00 price objective on the stock. Canaccord Genuity raised their price objective on Everbridge from $57.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Finally, SunTrust Banks raised their price objective on Everbridge to $73.00 and gave the company a “buy” rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Everbridge has a consensus rating of “Buy” and a consensus target price of $76.00.
Shares of NASDAQ EVBG opened at $76.72 on Tuesday. The firm has a market capitalization of $2.58 billion, a P/E ratio of -53.65 and a beta of 0.93. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 2.23. Everbridge has a 52 week low of $40.65 and a 52 week high of $79.91.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.09. The business had revenue of $42.82 million for the quarter, compared to analyst estimates of $42.23 million. Everbridge had a negative return on equity of 81.85% and a negative net margin of 32.30%. Everbridge’s revenue was up 40.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. As a group, equities analysts anticipate that Everbridge will post -1.48 EPS for the current year.
In other news, SVP Elliot J. Mark sold 1,609 shares of Everbridge stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $75.00, for a total transaction of $120,675.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James Totton sold 21,875 shares of Everbridge stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $72.57, for a total value of $1,587,468.75. The disclosure for this sale can be found here. Insiders have sold 60,306 shares of company stock worth $4,397,438 over the last three months. Insiders own 2.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in EVBG. AQR Capital Management LLC lifted its stake in shares of Everbridge by 42.1% in the third quarter. AQR Capital Management LLC now owns 15,155 shares of the technology company’s stock worth $874,000 after acquiring an additional 4,493 shares during the period. Vanguard Group Inc. lifted its stake in shares of Everbridge by 14.8% in the third quarter. Vanguard Group Inc. now owns 1,263,119 shares of the technology company’s stock worth $72,807,000 after acquiring an additional 162,373 shares during the period. Cowbird Capital LP acquired a new position in shares of Everbridge in the fourth quarter worth approximately $3,951,000. Bank of New York Mellon Corp lifted its stake in shares of Everbridge by 24.3% in the third quarter. Bank of New York Mellon Corp now owns 284,537 shares of the technology company’s stock worth $16,401,000 after acquiring an additional 55,667 shares during the period. Finally, Zweig DiMenna Associates LLC acquired a new position in shares of Everbridge in the first quarter worth approximately $5,759,000. 86.44% 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 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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