Everbridge (EVBG) Downgraded by Zacks Investment Research
Everbridge (NASDAQ:EVBG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research note issued on Tuesday.
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 research firms have also recently issued reports on EVBG. William Blair reiterated a “buy” rating on shares of Everbridge in a report on Tuesday, December 26th. Northland Securities reiterated a “buy” rating and issued a $33.00 price objective on shares of Everbridge in a report on Friday, November 10th. Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 price objective (up from $26.50) on shares of Everbridge in a report on Friday, November 17th. KeyCorp lifted their price objective on Everbridge from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, November 7th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $33.00 price objective (up from $28.00) on shares of Everbridge in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Everbridge presently has a consensus rating of “Buy” and an average price target of $31.33.
Everbridge (NASDAQ EVBG) traded up $0.20 during mid-day trading on Tuesday, reaching $30.89. The company had a trading volume of 130,600 shares, compared to its average volume of 277,929. Everbridge has a 12 month low of $16.63 and a 12 month high of $31.17. The firm has a market cap of $867.14 and a PE ratio of -51.48.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Monday, November 6th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $26.41 million. During the same period in the previous year, the firm posted ($0.07) EPS. Everbridge’s revenue was up 37.0% compared to the same quarter last year. equities research analysts expect that Everbridge will post -0.55 EPS for the current year.
In other news, SVP Elliot J. Mark sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $27.76, for a total transaction of $27,760.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jaime Wallace Ellertson sold 97,500 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $26.43, for a total value of $2,576,925.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,753 shares of company stock worth $4,091,021. Insiders own 41.40% of the company’s stock.
Several institutional investors have recently modified their holdings of EVBG. Granahan Investment Management Inc. MA acquired a new position in Everbridge in the third quarter valued at approximately $5,296,000. Gagnon Securities LLC lifted its holdings in Everbridge by 45.2% in the third quarter. Gagnon Securities LLC now owns 317,971 shares of the technology company’s stock valued at $8,401,000 after acquiring an additional 98,912 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Everbridge in the third quarter valued at approximately $16,417,000. Nicholas Investment Partners LP lifted its holdings in Everbridge by 21.7% in the third quarter. Nicholas Investment Partners LP now owns 530,969 shares of the technology company’s stock valued at $14,028,000 after acquiring an additional 94,790 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Everbridge by 5.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 65,971 shares of the technology company’s stock valued at $1,743,000 after acquiring an additional 3,499 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.
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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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