Zacks Investment Research Lowers Everbridge, Inc. (EVBG) to Sell
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 Tuesday.
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. “
Other research analysts have also recently issued reports about the stock. SunTrust Banks, Inc. initiated coverage on shares of Everbridge in a report on Monday, June 26th. They issued a “buy” rating and a $32.00 price objective for the company. KeyCorp reissued a “buy” rating and set a $27.00 target price on shares of Everbridge in a report on Friday, August 4th. Canaccord Genuity boosted their target price on Everbridge from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Northland Securities started coverage on Everbridge in a research report on Wednesday, August 30th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Stifel Nicolaus upped their target price on Everbridge from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.09.
Everbridge (EVBG) traded down 2.05% during midday trading on Tuesday, hitting $26.74. The company had a trading volume of 212,219 shares. Everbridge has a 12-month low of $12.92 and a 12-month high of $27.50. The stock’s market cap is $751.26 million. The company’s 50 day moving average is $24.96 and its 200 day moving average is $24.96.
Everbridge (NASDAQ:EVBG) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Everbridge had a negative net margin of 16.72% and a negative return on equity of 26.39%. The company had revenue of $25.00 million for the quarter, compared to the consensus estimate of $24.49 million. Everbridge’s revenue for the quarter was up 34.4% compared to the same quarter last year. On average, equities analysts anticipate that Everbridge will post ($0.28) EPS for the current fiscal year.
In other news, SVP Gary R. Phillips sold 7,778 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $22.88, for a total value of $177,960.64. Following the completion of the sale, the senior vice president now owns 1,045 shares in the company, valued at $23,909.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott Burnett sold 8,695 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $23.38, for a total value of $203,289.10. Following the completion of the sale, the senior vice president now owns 199 shares of the company’s stock, valued at approximately $4,652.62. The disclosure for this sale can be found here. Insiders sold a total of 284,118 shares of company stock worth $6,586,963 over the last quarter. Insiders own 41.40% of the company’s stock.
Several institutional investors have recently modified their holdings of EVBG. Legal & General Group Plc grew its holdings in shares of Everbridge by 196.3% during the second quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock valued at $107,000 after buying an additional 2,885 shares in the last quarter. American International Group Inc. purchased a new stake in Everbridge in the 1st quarter worth about $108,000. Fortaleza Asset Management Inc. purchased a new stake in Everbridge in the 2nd quarter worth about $166,000. Teachers Advisors LLC purchased a new stake in Everbridge in the 4th quarter worth about $180,000. Finally, Nationwide Fund Advisors boosted its position in Everbridge by 210.1% during the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock worth $234,000 after acquiring an additional 6,497 shares during the period. 51.22% of the stock is owned by institutional investors and hedge funds.
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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