Everbridge (EVBG) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Everbridge (NASDAQ:EVBG) from a hold rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $66.00 price objective on the technology company’s stock.

According to Zacks, “Everbridge, Inc. is a software company which provides communications and enterprise safety applications. The company’s applications include Mass Notification, Incident Management, IT Alerting, Safety Connection(TM), Community Engagement(TM), Secure Messaging and Internet of Things. It operates primarily in Boston, Los Angeles, San Francisco, Beijing and London. Everbridge, Inc. is based in Burlington, United States. “

Several other analysts have also recently issued reports on the company. BidaskClub cut Everbridge from a strong-buy rating to a buy rating in a research note on Saturday, September 22nd. Northland Securities reiterated a buy rating and issued a $55.00 price objective on shares of Everbridge in a research note on Tuesday, August 7th. Credit Suisse Group raised their price target on Everbridge from $56.00 to $58.00 and gave the company an outperform rating in a research note on Tuesday, August 7th. Robert W. Baird began coverage on Everbridge in a research note on Monday, October 22nd. They issued an outperform rating and a $60.00 price target on the stock. Finally, William Blair restated an outperform rating on shares of Everbridge in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average target price of $55.00.

Shares of NASDAQ EVBG traded down $2.36 during mid-day trading on Friday, hitting $56.46. The company had a trading volume of 410,940 shares, compared to its average volume of 404,388. The stock has a market cap of $1.67 billion, a P/E ratio of -99.05 and a beta of 1.58. 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 has a 1-year low of $23.87 and a 1-year high of $63.00.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings data on Monday, November 5th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.05. The business had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $38.09 million. Everbridge had a negative return on equity of 67.58% and a negative net margin of 32.34%. The company’s revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. On average, equities analysts forecast that Everbridge will post -1.44 EPS for the current fiscal year.

In other Everbridge news, SVP Elliot J. Mark sold 3,500 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $60.28, for a total value of $210,980.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert W. Hughes sold 23,700 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $60.68, for a total value of $1,438,116.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,621 shares of company stock worth $5,964,846. 11.20% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of EVBG. Raymond James Trust N.A. purchased a new position in shares of Everbridge during the third quarter worth about $236,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Everbridge by 197.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the technology company’s stock worth $198,000 after purchasing an additional 2,767 shares during the last quarter. Cannell Peter B & Co. Inc. purchased a new position in shares of Everbridge during the third quarter worth about $244,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Everbridge during the second quarter worth about $238,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of Everbridge during the second quarter worth about $244,000. Institutional investors own 88.96% of the company’s stock.

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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