William Blair Weighs in on Everbridge, Inc.’s FY2017 Earnings (EVBG)
Everbridge, Inc. (NASDAQ:EVBG) – Analysts at William Blair increased their FY2017 earnings estimates for Everbridge in a report issued on Tuesday. William Blair analyst D. Netis now expects that the technology company will post earnings of ($0.55) per share for the year, up from their previous forecast of ($0.64). William Blair has a “Buy” rating on the stock. William Blair also issued estimates for Everbridge’s Q4 2017 earnings at ($0.15) EPS, Q1 2018 earnings at ($0.17) EPS, Q2 2018 earnings at ($0.10) EPS, Q3 2018 earnings at ($0.09) EPS, Q4 2018 earnings at ($0.04) EPS and FY2018 earnings at ($0.40) EPS.
Everbridge (NASDAQ:EVBG) last released its earnings results on Monday, November 6th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. The firm had revenue of $27.31 million for the quarter, compared to analysts’ expectations of $26.41 million. Everbridge had a negative net margin of 17.10% and a negative return on equity of 29.44%. The company’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. ILLEGAL ACTIVITY NOTICE: This story was first reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/11/10/william-blair-weighs-in-on-everbridge-inc-s-fy2017-earnings-evbg-2.html.
A number of other analysts have also recently commented on the stock. Credit Suisse Group upped their price target on shares of Everbridge from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday. KeyCorp upped their price target on shares of Everbridge from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday. Canaccord Genuity restated a “buy” rating and set a $33.00 price target (up from $28.00) on shares of Everbridge in a research note on Tuesday. Needham & Company LLC upped their price target on shares of Everbridge from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Northland Securities restated an “outperform” rating and set a $31.00 price target (up from $28.00) on shares of Everbridge in a research note on Friday, October 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $30.75.
Shares of Everbridge (NASDAQ:EVBG) opened at $27.41 on Friday. Everbridge has a 52 week low of $14.26 and a 52 week high of $29.64.
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of Everbridge by 196.3% during the 2nd quarter. Legal & General Group Plc now owns 4,355 shares of the technology company’s stock valued at $107,000 after purchasing an additional 2,885 shares during the last quarter. American International Group Inc. bought a new position in shares of Everbridge during the 1st quarter valued at $108,000. Fortaleza Asset Management Inc. bought a new position in shares of Everbridge during the 2nd quarter valued at $166,000. Nationwide Fund Advisors grew its holdings in shares of Everbridge by 210.1% during the 2nd quarter. Nationwide Fund Advisors now owns 9,590 shares of the technology company’s stock valued at $234,000 after purchasing an additional 6,497 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Everbridge during the 2nd quarter valued at $288,000. 51.93% of the stock is currently owned by institutional investors.
In other news, SVP Yuan Cheng sold 11,000 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $27.37, for a total value of $301,070.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R William Burgess, Jr. sold 23,244 shares of the stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $22.56, for a total transaction of $524,384.64. Following the completion of the transaction, the insider now directly owns 45,165 shares in the company, valued at approximately $1,018,922.40. The disclosure for this sale can be found here. Insiders sold a total of 81,751 shares of company stock worth $2,033,059 over the last quarter. Corporate insiders own 41.40% of the company’s stock.
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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