Everbridge, Inc. (NASDAQ:EVBG) Price Target Raised to $28.00 at Canaccord Genuity
Everbridge, Inc. (NASDAQ:EVBG) had its price target increased by investment analysts at Canaccord Genuity from $27.00 to $28.00 in a research report issued to clients and investors on Friday. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 27.85% from the stock’s current price.
A number of other brokerages also recently commented on EVBG. SunTrust Banks, Inc. assumed coverage on shares of Everbridge in a research report on Monday, June 26th. They issued a “buy” rating and a $32.00 price objective on the stock. Zacks Investment Research raised shares of Everbridge from a “sell” rating to a “hold” rating and set a $26.00 price objective on the stock in a research report on Monday, May 1st. KeyCorp reissued a “buy” rating and issued a $27.00 price objective on shares of Everbridge in a research report on Friday. Bank of America Corporation increased their price objective on shares of Everbridge from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective (up from $25.00) on shares of Everbridge in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Everbridge presently has an average rating of “Buy” and a consensus price target of $25.60.
Shares of Everbridge (EVBG) traded down 6.45% during midday trading on Friday, reaching $21.90. 377,040 shares of the company’s stock traded hands. The stock’s market capitalization is $610.20 million. The firm’s 50-day moving average price is $23.89 and its 200 day moving average price is $21.86. Everbridge has a 1-year low of $11.76 and a 1-year high of $26.87.
Everbridge (NASDAQ:EVBG) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The firm had revenue of $25 million during the quarter, compared to analysts’ expectations of $24.49 million. Everbridge’s revenue was up 34.4% on a year-over-year basis. On average, equities analysts predict that Everbridge will post ($0.30) earnings per share for the current fiscal year.
In related news, Director Cintawati W. Putra sold 58,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $23.72, for a total value of $1,375,760.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Claudia Dent sold 4,000 shares of the stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $25.95, for a total transaction of $103,800.00. The disclosure for this sale can be found here. Insiders sold a total of 227,107 shares of company stock worth $5,358,794 over the last ninety days. Insiders own 41.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Everbridge by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 118,442 shares of the technology company’s stock worth $2,432,000 after buying an additional 325 shares during the period. Gradient Investments LLC increased its position in Everbridge by 3.3% in the second quarter. Gradient Investments LLC now owns 18,017 shares of the technology company’s stock worth $439,000 after buying an additional 576 shares during the period. Parametric Portfolio Associates LLC increased its position in Everbridge by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 19,687 shares of the technology company’s stock worth $404,000 after buying an additional 1,199 shares during the period. Legal & General Group Plc increased its position in Everbridge by 196.3% in the second quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock worth $107,000 after buying an additional 2,885 shares during the period. Finally, American International Group Inc. bought a new position in Everbridge during the first quarter worth approximately $108,000. 37.09% of the stock is currently owned by hedge funds and other institutional investors.
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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