Zacks Investment Research downgraded shares of Everbridge (NASDAQ:EVBG) from a buy rating to a hold rating in a research report released on Monday.

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. “

EVBG has been the topic of a number of other reports. William Blair restated an outperform rating on shares of Everbridge in a report on Tuesday, November 6th. BidaskClub upgraded shares of Everbridge from a hold rating to a buy rating in a report on Saturday, November 10th. Robert W. Baird started coverage on shares of Everbridge in a report on Monday, October 22nd. They set an outperform rating and a $60.00 target price on the stock. Northland Securities restated a buy rating and set a $55.00 target price on shares of Everbridge in a report on Tuesday, August 7th. Finally, Credit Suisse Group boosted their target price on shares of Everbridge from $56.00 to $58.00 and gave the stock an outperform rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $55.00.

Shares of EVBG opened at $46.18 on Monday. The firm has a market cap of $1.57 billion, a P/E ratio of -81.02 and a beta of 1.58. Everbridge has a 1-year low of $23.87 and a 1-year high of $63.00. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.46 and a current ratio of 1.46.

Everbridge (NASDAQ:EVBG) last issued its earnings results on Monday, November 5th. The technology company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. The business had revenue of $38.90 million for the quarter, compared to the consensus estimate of $38.09 million. Everbridge had a negative net margin of 32.34% and a negative return on equity of 70.30%. The firm’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) earnings per share. On average, analysts predict that Everbridge will post -1.44 earnings per share for the current year.

In other Everbridge news, SVP Elliot J. Mark sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $60.28, for a total value of $210,980.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kent Mathy sold 33,190 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $47.43, for a total transaction of $1,574,201.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,621 shares of company stock worth $5,964,846. Corporate insiders own 11.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Everbridge by 10.4% in the third quarter. BlackRock Inc. now owns 1,767,668 shares of the technology company’s stock valued at $101,889,000 after purchasing an additional 166,756 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of Everbridge in the third quarter valued at $53,806,000. Light Street Capital Management LLC acquired a new position in shares of Everbridge in the second quarter valued at $33,008,000. Brown Advisory Inc. increased its holdings in shares of Everbridge by 2.8% in the third quarter. Brown Advisory Inc. now owns 575,911 shares of the technology company’s stock valued at $33,196,000 after purchasing an additional 15,724 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in shares of Everbridge by 1.5% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 502,675 shares of the technology company’s stock valued at $28,974,000 after acquiring an additional 7,293 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Everbridge Company Profile

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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