Everbridge (NASDAQ:EVBG)‘s stock had its “buy” rating restated by equities research analysts at KeyCorp in a research report issued on Wednesday. They currently have a $37.00 target price on the technology company’s stock, up from their previous target price of $30.00. KeyCorp’s target price would suggest a potential upside of 13.05% from the company’s current price.
The analysts wrote, “We are raising our price target to $37 from $30 rolling forward to 2019 estimates.””
Several other research analysts also recently weighed in on EVBG. BidaskClub upgraded Everbridge from a “hold” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 target price on shares of Everbridge in a research note on Thursday, January 11th. Northland Securities reiterated an “outperform” rating and issued a $31.00 target price (up from $28.00) on shares of Everbridge in a research note on Friday, October 13th. Canaccord Genuity reiterated a “buy” rating and issued a $33.00 target price (up from $28.00) on shares of Everbridge in a research note on Tuesday, November 7th. Finally, Zacks Investment Research downgraded Everbridge from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.11.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.04. Everbridge had a negative return on equity of 29.44% and a negative net margin of 17.10%. The company had revenue of $27.31 million for the quarter, compared to the consensus estimate of $26.41 million. During the same period last year, the business posted ($0.07) EPS. The company’s revenue was up 37.0% on a year-over-year basis. analysts expect that Everbridge will post -0.55 EPS for the current year.
In related news, SVP Yuan Cheng sold 11,000 shares of Everbridge stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $27.37, for a total value of $301,070.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jaime Wallace Ellertson sold 97,500 shares of Everbridge stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $26.43, for a total value of $2,576,925.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,828 shares of company stock worth $4,379,114. Company insiders own 41.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of EVBG. New York State Common Retirement Fund boosted its position in Everbridge by 31.9% during the third quarter. New York State Common Retirement Fund now owns 64,463 shares of the technology company’s stock worth $1,703,000 after purchasing an additional 15,603 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Everbridge by 67.8% during the second quarter. Bank of New York Mellon Corp now owns 198,687 shares of the technology company’s stock worth $4,840,000 after purchasing an additional 80,245 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Everbridge during the second quarter worth $288,000. Granahan Investment Management Inc. MA purchased a new stake in Everbridge during the third quarter worth $5,296,000. Finally, Gagnon Securities LLC boosted its position in Everbridge by 45.2% during the third quarter. Gagnon Securities LLC now owns 317,971 shares of the technology company’s stock worth $8,401,000 after purchasing an additional 98,912 shares in the last quarter. Hedge funds and other institutional investors own 65.40% of the company’s stock.
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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