Everbridge (EVBG) Price Target Raised to $37.00 at Credit Suisse Group

Everbridge (NASDAQ:EVBG) had its price objective lifted by equities researchers at Credit Suisse Group from $30.00 to $37.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 10.35% from the stock’s current price.

A number of other brokerages have also issued reports on EVBG. Zacks Investment Research lowered Everbridge from a “strong-buy” rating to a “sell” rating in a research report on Tuesday, January 9th. KeyCorp reaffirmed a “buy” rating and set a $37.00 target price (up from $30.00) on shares of Everbridge in a research report on Wednesday, January 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $33.00 target price (up from $28.00) on shares of Everbridge in a research report on Tuesday, November 7th. William Blair reissued a “buy” rating on shares of Everbridge in a research report on Tuesday, December 26th. Finally, BidaskClub lowered Everbridge from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.89.

Shares of Everbridge (NASDAQ EVBG) traded up $0.47 during trading on Thursday, hitting $33.53. The stock had a trading volume of 238,079 shares, compared to its average volume of 247,030. The firm has a market capitalization of $936.36 and a price-to-earnings ratio of -55.88. Everbridge has a 12 month low of $16.63 and a 12 month high of $33.85.

In related news, CEO Jaime Wallace Ellertson sold 97,500 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.43, for a total transaction of $2,576,925.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Elliot J. Mark sold 1,000 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $32.17, for a total value of $32,170.00. The disclosure for this sale can be found here. Insiders have sold 148,028 shares of company stock worth $4,128,849 over the last three months. 41.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new position in Everbridge in the fourth quarter valued at about $248,000. Two Sigma Investments LP grew its stake in Everbridge by 206.4% in the fourth quarter. Two Sigma Investments LP now owns 297,374 shares of the technology company’s stock valued at $8,838,000 after purchasing an additional 200,310 shares in the last quarter. Two Sigma Advisers LP grew its stake in Everbridge by 527.0% in the fourth quarter. Two Sigma Advisers LP now owns 99,700 shares of the technology company’s stock valued at $2,963,000 after purchasing an additional 83,800 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Everbridge by 226.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 280,263 shares of the technology company’s stock valued at $8,329,000 after purchasing an additional 194,421 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in Everbridge by 24.6% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 564,921 shares of the technology company’s stock valued at $16,789,000 after purchasing an additional 111,551 shares in the last quarter. Hedge funds and other institutional investors own 66.36% of the company’s stock.

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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.

Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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