Everbridge’s (NASDAQ:EVBG) “Buy” Rating Reaffirmed at Northland Securities

Everbridge (NASDAQ:EVBG)‘s stock had its “buy” rating reissued by research analysts at Northland Securities in a research report issued on Tuesday, August 7th. They presently have a $55.00 target price on the technology company’s stock. Northland Securities’ target price would indicate a potential downside of 8.65% from the stock’s current price.

A number of other brokerages also recently issued reports on EVBG. Needham & Company LLC boosted their price objective on Everbridge to $46.00 and gave the company a “buy” rating in a research note on Tuesday, May 8th. Credit Suisse Group boosted their price objective on Everbridge from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, May 8th. BidaskClub raised Everbridge from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 11th. Canaccord Genuity boosted their price objective on Everbridge from $46.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, June 7th. Finally, Raymond James boosted their price objective on Everbridge to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, May 8th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.56.

EVBG traded up $0.65 during midday trading on Tuesday, hitting $60.21. 377,700 shares of the company were exchanged, compared to its average volume of 327,559. The company has a market capitalization of $1.70 billion, a PE ratio of -105.63 and a beta of 0.67. Everbridge has a 1-year low of $21.83 and a 1-year high of $61.50. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.74.

Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, August 6th. The technology company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.04. The firm had revenue of $35.80 million for the quarter, compared to the consensus estimate of $34.18 million. Everbridge had a negative return on equity of 64.53% and a negative net margin of 31.96%. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) EPS. equities research analysts predict that Everbridge will post -1.55 EPS for the current fiscal year.

In other news, CEO Jaime Wallace Ellertson sold 219,349 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $51.33, for a total value of $11,259,184.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth S. Goldman sold 815 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $49.95, for a total value of $40,709.25. The disclosure for this sale can be found here. Insiders have sold a total of 702,760 shares of company stock valued at $35,085,901 over the last three months. Corporate insiders own 11.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in shares of Everbridge by 0.6% in the first quarter. Northern Trust Corp now owns 222,382 shares of the technology company’s stock valued at $8,140,000 after acquiring an additional 1,316 shares in the last quarter. Gagnon Advisors LLC lifted its stake in Everbridge by 1.2% in the second quarter. Gagnon Advisors LLC now owns 132,931 shares of the technology company’s stock valued at $6,304,000 after purchasing an additional 1,527 shares during the last quarter. Denver Investment Advisors LLC lifted its stake in Everbridge by 6.7% in the first quarter. Denver Investment Advisors LLC now owns 29,077 shares of the technology company’s stock valued at $1,064,000 after purchasing an additional 1,817 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Everbridge by 44.3% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,575 shares of the technology company’s stock valued at $407,000 after purchasing an additional 2,632 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Everbridge by 197.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the technology company’s stock valued at $198,000 after purchasing an additional 2,767 shares during the last quarter. 89.16% of the stock is owned by institutional investors.

About Everbridge

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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Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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