Zacks: Analysts Expect Everbridge, Inc. (EVBG) Will Announce Quarterly Sales of $26.39 Million
Brokerages forecast that Everbridge, Inc. (NASDAQ:EVBG) will report $26.39 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Everbridge’s earnings, with the highest sales estimate coming in at $26.42 million and the lowest estimate coming in at $26.31 million. Everbridge posted sales of $19.93 million in the same quarter last year, which would indicate a positive year over year growth rate of 32.4%. The business is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Everbridge will report full year sales of $26.39 million for the current fiscal year, with estimates ranging from $102.41 million to $102.64 million. For the next year, analysts forecast that the business will report sales of $129.09 million per share, with estimates ranging from $126.50 million to $133.11 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Everbridge.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $25.00 million during the quarter, compared to analysts’ expectations of $24.49 million. The firm’s revenue for the quarter was up 34.4% compared to the same quarter last year.
EVBG has been the topic of a number of research reports. William Blair reiterated a “buy” rating on shares of Everbridge in a research note on Monday. ValuEngine raised shares of Everbridge from a “sell” rating to a “hold” rating in a report on Monday, September 18th. SunTrust Banks, Inc. started coverage on shares of Everbridge in a report on Monday, June 26th. They set a “buy” rating and a $32.00 price target for the company. Stifel Nicolaus upped their price target on shares of Everbridge from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Finally, KeyCorp reaffirmed a “buy” rating and set a $27.00 price target on shares of Everbridge in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.09.
In other Everbridge news, SVP Claudia Dent sold 4,000 shares of Everbridge stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $25.95, for a total transaction of $103,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cintawati W. Putra sold 1,100 shares of Everbridge 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. Insiders sold 288,118 shares of company stock valued at $6,690,763 in the last quarter. Corporate insiders own 41.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its holdings in shares of 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 acquiring an additional 2,885 shares during the last quarter. American International Group Inc. purchased a new position in shares of Everbridge in the first quarter worth $108,000. Fortaleza Asset Management Inc. purchased a new position in shares of Everbridge in the second quarter worth $166,000. Nationwide Fund Advisors increased 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 during the period. Finally, Teachers Advisors LLC purchased a new position in shares of Everbridge in the fourth quarter worth $180,000. Institutional investors and hedge funds own 51.22% of the company’s stock.
Shares of Everbridge (EVBG) opened at 24.89 on Tuesday. The company’s market capitalization is $699.28 million. The firm’s 50-day moving average is $23.89 and its 200-day moving average is $23.89. Everbridge has a 12-month low of $12.92 and a 12-month high of $25.75.
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Everbridge Company Profile
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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