Northland Securities Initiates Coverage on Everbridge, Inc. (EVBG)
Investment analysts at Northland Securities started coverage on shares of Everbridge, Inc. (NASDAQ:EVBG) in a report issued on Wednesday. The firm set an “outperform” rating and a $28.00 price target on the technology company’s stock. Northland Securities’ price objective would suggest a potential upside of 20.85% from the stock’s current price.
Several other research firms have also weighed in on EVBG. SunTrust Banks, Inc. assumed coverage on shares of Everbridge in a report on Monday, June 26th. They set a “buy” rating and a $32.00 price objective for the company. KeyCorp reaffirmed a “buy” rating and set a $27.00 price objective on shares of Everbridge in a report on Friday, August 4th. Bank of America Corporation raised their price objective on shares of Everbridge from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective (up previously from $25.00) on shares of Everbridge in a report on Tuesday, May 9th. Finally, Pacific Crest reaffirmed a “buy” rating on shares of Everbridge in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $25.82.
Everbridge (NASDAQ EVBG) opened at 23.17 on Wednesday. Everbridge has a 12 month low of $11.76 and a 12 month high of $26.87. The firm’s market capitalization is $650.96 million. The stock’s 50 day moving average price is $22.92 and its 200 day moving average price is $22.41.
Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Everbridge had a negative net margin of 16.72% and a negative return on equity of 26.39%. The firm had revenue of $25 million during the quarter, compared to analyst estimates of $24.49 million. The company’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, analysts forecast that Everbridge will post ($0.28) earnings per share for the current year.
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In related news, Director Cintawati W. Putra sold 58,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $23.72, for a total value of $1,375,760.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cintawati W. Putra sold 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $23.50, for a total transaction of $25,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,645 shares of company stock valued at $6,824,993. Company insiders own 41.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Everbridge by 196.3% in the second 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 in the last quarter. American International Group Inc. bought a new stake in shares of Everbridge during the first quarter worth $108,000. Fortaleza Asset Management Inc. bought a new stake in shares of Everbridge during the second quarter worth $166,000. Teachers Advisors LLC bought a new stake in shares of Everbridge during the fourth quarter worth $180,000. Finally, Nationwide Fund Advisors raised its stake in shares of Everbridge by 210.1% in the second 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 in the last quarter. 51.22% of the stock is owned by institutional investors and hedge funds.
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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