Everbridge (EVBG) Cut to Hold at BidaskClub

BidaskClub lowered shares of Everbridge (NASDAQ:EVBG) from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Everbridge from a sell rating to a hold rating in a research report on Friday, August 10th. Northland Securities reaffirmed a buy rating and set a $55.00 price target on shares of Everbridge in a research report on Tuesday, August 7th. Credit Suisse Group raised their price target on shares of Everbridge from $56.00 to $58.00 and gave the stock an outperform rating in a research report on Tuesday, August 7th. KeyCorp raised their price target on shares of Everbridge from $45.00 to $58.00 and gave the stock an overweight rating in a research report on Friday, June 15th. Finally, Canaccord Genuity reaffirmed a buy rating and set a $57.00 price target (up from $52.00) on shares of Everbridge in a research report on Monday, June 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $50.56.

NASDAQ:EVBG opened at $56.00 on Thursday. Everbridge has a 52 week low of $23.87 and a 52 week high of $63.00. The stock has a market cap of $1.69 billion, a P/E ratio of -98.25 and a beta of 1.24. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.50 and a current ratio of 1.50.

Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Monday, August 6th. The technology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Everbridge had a negative net margin of 31.96% and a negative return on equity of 64.53%. The business had revenue of $35.80 million for the quarter, compared to analyst estimates of $34.18 million. During the same period last year, the firm earned ($0.05) earnings per share. Everbridge’s revenue for the quarter was up 43.2% compared to the same quarter last year. Equities research analysts anticipate that Everbridge will post -1.54 earnings per share for the current year.

In other Everbridge news, SVP Imad Mouline sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $45.87, for a total value of $137,610.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jaime Wallace Ellertson sold 6,943 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $60.76, for a total transaction of $421,856.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,922 shares of company stock worth $6,603,931. Insiders own 11.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management Inc. boosted its stake in shares of Everbridge by 12.7% in the 2nd quarter. Fred Alger Management Inc. now owns 1,886,522 shares of the technology company’s stock valued at $89,459,000 after purchasing an additional 212,555 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Everbridge by 34.6% in the 2nd quarter. BlackRock Inc. now owns 1,600,912 shares of the technology company’s stock valued at $75,914,000 after purchasing an additional 411,577 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Everbridge by 22.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,315,241 shares of the technology company’s stock valued at $48,138,000 after purchasing an additional 244,438 shares in the last quarter. Light Street Capital Management LLC acquired a new stake in shares of Everbridge in the 2nd quarter valued at approximately $33,008,000. Finally, Brown Advisory Inc. boosted its stake in shares of Everbridge by 73.4% in the 2nd quarter. Brown Advisory Inc. now owns 560,187 shares of the technology company’s stock valued at $26,565,000 after purchasing an additional 237,207 shares in the last quarter. 89.06% of the stock is currently owned by hedge funds and other institutional investors.

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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