Everbridge (NASDAQ:EVBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

A number of other brokerages also recently issued reports on EVBG. Robert W. Baird increased their price target on Everbridge from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 20th. Needham & Company LLC increased their price target on Everbridge to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. SunTrust Banks increased their price target on Everbridge to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Canaccord Genuity increased their price target on Everbridge from $57.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. began coverage on Everbridge in a research report on Wednesday, February 6th. They set a “neutral” rating and a $69.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Everbridge currently has a consensus rating of “Buy” and a consensus target price of $62.77.

Shares of NASDAQ:EVBG opened at $72.07 on Tuesday. The company has a market cap of $2.35 billion, a P/E ratio of -50.40 and a beta of 1.02. Everbridge has a 1 year low of $35.97 and a 1 year high of $76.60. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.35 and a current ratio of 1.35.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.01. The business had revenue of $41.83 million for the quarter, compared to the consensus estimate of $41.04 million. Everbridge had a negative return on equity of 81.85% and a negative net margin of 32.30%. On average, analysts anticipate that Everbridge will post -1.48 EPS for the current fiscal year.

In other Everbridge news, CFO Kenneth S. Goldman sold 816 shares of the company’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $53.00, for a total transaction of $43,248.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Imad Mouline sold 5,000 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $75.10, for a total value of $375,500.00. The disclosure for this sale can be found here. Insiders have sold 64,791 shares of company stock valued at $3,984,594 over the last 90 days. Corporate insiders own 11.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mesirow Financial Investment Management Inc. grew its stake in shares of Everbridge by 7.9% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 7,988 shares of the technology company’s stock valued at $599,000 after buying an additional 587 shares during the period. Geode Capital Management LLC grew its stake in shares of Everbridge by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 302,277 shares of the technology company’s stock valued at $17,156,000 after buying an additional 21,656 shares during the period. Amalgamated Bank acquired a new stake in shares of Everbridge in the 4th quarter valued at about $221,000. Macquarie Group Ltd. acquired a new stake in shares of Everbridge in the 4th quarter valued at about $156,000. Finally, Potrero Capital Research LLC acquired a new stake in shares of Everbridge in the 4th quarter valued at about $1,419,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Everbridge Company Profile

Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that 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 that 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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