Everbridge’s (EVBG) “Buy” Rating Reaffirmed at Bank of America

Bank of America reissued their buy rating on shares of Everbridge (NASDAQ:EVBG) in a report published on Thursday morning. Bank of America currently has a $38.00 target price on the technology company’s stock, up from their prior target price of $30.00.

Several other research analysts also recently commented on EVBG. Needham & Company LLC raised their price target on shares of Everbridge from $28.00 to $32.00 and gave the company a buy rating in a report on Tuesday, November 7th. Canaccord Genuity restated a buy rating and set a $33.00 price objective (up previously from $28.00) on shares of Everbridge in a research report on Tuesday, November 7th. KeyCorp raised their price objective on shares of Everbridge from $27.00 to $30.00 and gave the company an overweight rating in a research report on Tuesday, November 7th. Credit Suisse Group raised their price objective on shares of Everbridge from $28.00 to $30.00 and gave the company an outperform rating in a research report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of Everbridge from a hold rating to a buy rating and set a $31.00 price objective on the stock in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Everbridge currently has an average rating of Buy and a consensus price target of $36.56.

Shares of Everbridge (EVBG) traded down $1.16 during trading hours on Thursday, reaching $32.01. 606,400 shares of the company’s stock traded hands, compared to its average volume of 253,292. Everbridge has a 1 year low of $16.63 and a 1 year high of $34.75.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). Everbridge had a negative net margin of 18.82% and a negative return on equity of 36.15%. The firm had revenue of $29.18 million during the quarter, compared to the consensus estimate of $28.49 million. During the same period last year, the firm earned ($0.03) EPS. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. equities research analysts anticipate that Everbridge will post -0.39 earnings per share for the current year.

In related news, CFO Kenneth S. Goldman sold 816 shares of Everbridge stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $32.06, for a total value of $26,160.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jaime Wallace Ellertson sold 97,500 shares of Everbridge stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.43, for a total transaction of $2,576,925.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,028 shares of company stock worth $4,128,849. Corporate insiders own 41.40% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Handelsbanken Fonder AB purchased a new position in Everbridge in the 4th quarter worth $2,229,000. MetLife Investment Advisors LLC purchased a new position in Everbridge in the 4th quarter worth $248,000. Two Sigma Investments LP raised its position in Everbridge by 206.4% in the 4th quarter. Two Sigma Investments LP now owns 297,374 shares of the technology company’s stock worth $8,838,000 after purchasing an additional 200,310 shares during the period. Two Sigma Advisers LP raised its position in Everbridge by 527.0% in the 4th quarter. Two Sigma Advisers LP now owns 99,700 shares of the technology company’s stock worth $2,963,000 after purchasing an additional 83,800 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Everbridge by 226.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 280,263 shares of the technology company’s stock worth $8,329,000 after purchasing an additional 194,421 shares during the period. Institutional investors own 74.00% of the company’s stock.

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Everbridge Company Profile

Everbridge, Inc is a global software company. The Company provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running. During public safety threats, such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events, such as information technology (IT) outages, cyber-attacks or other incidents, such as product recalls or supply-chain interruptions, its Software as a Service (SaaS)-based platform enables its customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.

Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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