Everbridge Inc (EVBG) Downgraded to “Sell” at Zacks Investment Research
Everbridge Inc (NASDAQ:EVBG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Everbridge, Inc. is a software company which provides communications and enterprise safety applications. The company’s applications include Mass Notification, Incident Management, IT Alerting, Safety Connection(TM), Community Engagement(TM), Secure Messaging and Internet of Things. It operates primarily in Boston, Los Angeles, San Francisco, Beijing and London. Everbridge, Inc. is based in Burlington, United States. “
A number of other analysts have also recently commented on the company. Canaccord Genuity restated a “buy” rating and issued a $22.00 price target on shares of Everbridge in a research report on Wednesday, February 1st. Stifel Nicolaus increased their target price on Everbridge from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.50.
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Shares of Everbridge (NASDAQ:EVBG) traded up 3.85% during midday trading on Monday, reaching $20.48. The company had a trading volume of 338,101 shares. The stock’s market capitalization is $556.01 million. Everbridge has a 1-year low of $11.76 and a 1-year high of $20.95. The company’s 50-day moving average is $18.62 and its 200-day moving average is $17.31.
Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Monday, February 27th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The company earned $21.30 million during the quarter, compared to analysts’ expectations of $20.64 million. The business’s revenue for the quarter was up 31.5% compared to the same quarter last year. On average, equities research analysts forecast that Everbridge will post ($0.32) EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. P.A.W. Capital Corp purchased a new position in Everbridge during the third quarter valued at $101,000. Brown Advisory Inc. purchased a new position in Everbridge during the fourth quarter valued at $214,000. Two Sigma Securities LLC purchased a new position in Everbridge during the third quarter valued at $205,000. Geduld E E purchased a new position in Everbridge during the third quarter valued at $253,000. Finally, Spark Investment Management LLC purchased a new position in Everbridge during the third quarter valued at $399,000. Institutional investors and hedge funds own 24.16% of the company’s stock.
Everbridge, Inc is a global enterprise software company that provides applications, which automate the delivery of information to help keep people safe and businesses running. During critical business events or man-made or natural disasters, over 3,000 global customers rely on the Everbridge platform to construct and deliver contextual notifications to millions of people at one time.
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