Everbridge (EVBG) Given New $87.00 Price Target at SunTrust Banks

Everbridge (NASDAQ:EVBG) had its price target boosted by SunTrust Banks to $87.00 in a report released on Tuesday, The Fly reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts have also recently commented on EVBG. Zacks Investment Research upgraded shares of Everbridge from a sell rating to a hold rating in a research report on Thursday, January 10th. BidaskClub upgraded shares of Everbridge from a buy rating to a strong-buy rating in a research report on Tuesday, February 5th. JPMorgan Chase & Co. initiated coverage on shares of Everbridge in a research report on Wednesday, February 6th. They set a neutral rating and a $69.00 price target on the stock. Canaccord Genuity increased their price target on shares of Everbridge from $57.00 to $75.00 and gave the company a buy rating in a research report on Wednesday, February 20th. Finally, Robert W. Baird increased their price objective on Everbridge from $67.00 to $75.00 and gave the company an outperform rating in a research note on Wednesday, February 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Everbridge presently has a consensus rating of Buy and an average price target of $73.62.

Shares of NASDAQ EVBG opened at $78.39 on Tuesday. Everbridge has a one year low of $39.71 and a one year high of $79.65. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 2.23. The company has a market cap of $2.58 billion, a price-to-earnings ratio of -54.82 and a beta of 0.93.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Monday, May 6th. The technology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. Everbridge had a negative net margin of 32.30% and a negative return on equity of 81.85%. The business had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.23 million. During the same period last year, the business earned ($0.17) earnings per share. The business’s quarterly revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts predict that Everbridge will post -1.48 EPS for the current fiscal year.

In related news, SVP Elliot J. Mark sold 1,609 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $75.00, for a total value of $120,675.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Imad Mouline sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $75.10, for a total value of $375,500.00. The disclosure for this sale can be found here. Insiders sold 33,431 shares of company stock valued at $2,422,469 in the last ninety days. 2.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Everbridge by 6.5% during the fourth quarter. BlackRock Inc. now owns 1,883,378 shares of the technology company’s stock valued at $106,901,000 after acquiring an additional 115,710 shares in the last quarter. Vanguard Group Inc increased 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. Vanguard Group Inc. increased 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. Polar Capital LLP increased its holdings in Everbridge by 52.6% in the 4th quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock worth $39,763,000 after buying an additional 241,458 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Everbridge by 89.5% in the 4th quarter. Bank of New York Mellon Corp now owns 539,073 shares of the technology company’s stock worth $30,598,000 after buying an additional 254,536 shares in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.

About Everbridge

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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