BidaskClub Downgrades Everbridge (NASDAQ:EVBG) to Buy

Everbridge (NASDAQ:EVBG) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

A number of other equities analysts have also recently commented on EVBG. Stephens reiterated a “buy” rating and set a $74.00 price target on shares of Everbridge in a report on Monday, May 6th. Bank of America set a $7.00 price target on shares of CannTrust and gave the company a “buy” rating in a research report on Thursday, June 20th. KeyCorp lifted their price target on shares of Paylocity from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus lifted their price target on shares of Everbridge from $91.00 to $100.00 in a research report on Thursday, June 20th. Finally, Northland Securities lifted their price target on shares of Everbridge from $83.00 to $105.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Three analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $94.42.

EVBG stock traded down $0.03 during trading hours on Wednesday, reaching $97.97. 459,275 shares of the stock were exchanged, compared to its average volume of 522,374. The firm’s 50-day simple moving average is $88.99. The company has a market cap of $3.17 billion, a P/E ratio of -68.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.42 and a current ratio of 2.42. Everbridge has a 12 month low of $41.94 and a 12 month high of $99.67.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.09. Everbridge had a negative return on equity of 52.04% and a negative net margin of 30.93%. The company had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.23 million. During the same quarter last year, the company earned ($0.17) EPS. Everbridge’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities analysts expect that Everbridge will post -1.41 earnings per share for the current year.

In related news, Director Richard A. Damore sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $76.52, for a total transaction of $191,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Elliot J. Mark sold 1,609 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $75.00, for a total transaction of $120,675.00. The disclosure for this sale can be found here. In the last three months, insiders sold 419,925 shares of company stock worth $34,630,756. 2.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of EVBG. Victory Capital Management Inc. purchased a new stake in shares of Everbridge in the first quarter valued at $27,484,000. Bank of New York Mellon Corp raised its position in shares of Everbridge by 89.5% in the 4th quarter. Bank of New York Mellon Corp now owns 539,073 shares of the technology company’s stock valued at $30,598,000 after purchasing an additional 254,536 shares during the last quarter. Polar Capital LLP raised its position in Everbridge by 52.6% during the 4th quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock worth $39,763,000 after buying an additional 241,458 shares during the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Everbridge during the 4th quarter worth approximately $10,334,000. Finally, Assenagon Asset Management S.A. purchased a new position in Everbridge during the 1st quarter worth approximately $10,520,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Everbridge

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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Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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