Everbridge’s (EVBG) “Outperform” Rating Reiterated at Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of Everbridge, Inc. (NASDAQ:EVBG) in a research note released on Friday morning, MarketBeat reports. Credit Suisse Group currently has a $30.00 price target on the technology company’s stock, up from their prior price target of $26.50.
EVBG has been the subject of a number of other reports. ValuEngine raised Everbridge from a sell rating to a hold rating in a research note on Monday, September 18th. Zacks Investment Research raised Everbridge from a hold rating to a buy rating and set a $31.00 price target for the company in a research note on Friday, November 10th. Northland Securities reaffirmed a buy rating and set a $33.00 price target on shares of Everbridge in a research note on Friday, November 10th. Needham & Company LLC raised their price target on Everbridge from $28.00 to $32.00 and gave the stock a buy rating in a research note on Tuesday, November 7th. Finally, KeyCorp raised their price target on Everbridge from $27.00 to $30.00 and gave the stock an overweight rating in a research note on Tuesday, November 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Everbridge has a consensus rating of Buy and an average price target of $31.00.
Shares of Everbridge (NASDAQ EVBG) opened at $26.65 on Friday. Everbridge has a one year low of $14.26 and a one year high of $29.99.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.04. Everbridge had a negative return on equity of 29.44% and a negative net margin of 17.10%. The company had revenue of $27.31 million during the quarter, compared to the consensus estimate of $26.41 million. During the same period last year, the business earned ($0.07) EPS. The business’s quarterly revenue was up 37.0% on a year-over-year basis. equities analysts anticipate that Everbridge will post -0.55 EPS for the current year.
In related news, insider R William Burgess, Jr. sold 23,244 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $22.56, for a total value of $524,384.64. Following the transaction, the insider now directly owns 45,165 shares of the company’s stock, valued at approximately $1,018,922.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth S. Goldman sold 11,141 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $26.88, for a total value of $299,470.08. The disclosure for this sale can be found here. Insiders sold a total of 83,051 shares of company stock worth $2,073,584 over the last three months. 41.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc increased its position in Everbridge by 196.3% in the 2nd quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock worth $107,000 after buying an additional 2,885 shares during the period. American International Group Inc. bought a new position in Everbridge in the 1st quarter worth approximately $108,000. Fortaleza Asset Management Inc. bought a new position in Everbridge in the 2nd quarter worth approximately $166,000. Nationwide Fund Advisors increased its position in Everbridge by 210.1% in the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock worth $234,000 after buying an additional 6,497 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Everbridge in the 2nd quarter worth approximately $288,000. 55.21% of the stock is currently owned by institutional investors.
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.
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