StockNews.com Initiates Coverage on Everbridge (NASDAQ:EVBG)

Investment analysts at StockNews.com started coverage on shares of Everbridge (NASDAQ:EVBG) in a research note issued to investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other analysts have also commented on EVBG. Robert W. Baird upped their price objective on shares of Everbridge from $21.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Everbridge in a research note on Monday, February 5th. Raymond James reaffirmed a “market perform” rating on shares of Everbridge in a research note on Wednesday, February 7th. Wells Fargo & Company upgraded Everbridge from an “underweight” rating to an “equal weight” rating in a report on Tuesday, February 6th. Finally, Canaccord Genuity Group upped their target price on Everbridge from $28.60 to $35.00 and gave the company a “hold” rating in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, Everbridge currently has a consensus rating of “Hold” and an average target price of $29.00.

Everbridge Stock Performance

EVBG stock opened at $34.86 on Thursday. The company has a market capitalization of $1.45 billion, a P/E ratio of -24.38, a PEG ratio of 0.94 and a beta of 0.96. The company has a 50-day simple moving average of $31.92 and a 200 day simple moving average of $25.33. Everbridge has a fifty-two week low of $18.50 and a fifty-two week high of $35.70. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.98.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Everbridge had a negative net margin of 10.54% and a positive return on equity of 6.46%. The business had revenue of $115.76 million during the quarter, compared to analyst estimates of $114.70 million. Sell-side analysts predict that Everbridge will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Patrick Brickley sold 6,360 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.79, for a total value of $144,944.40. Following the transaction, the chief financial officer now owns 124,985 shares in the company, valued at $2,848,408.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Everbridge news, CFO Patrick Brickley sold 6,360 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $22.79, for a total transaction of $144,944.40. Following the transaction, the chief financial officer now owns 124,985 shares in the company, valued at $2,848,408.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bryan Reed Barney sold 3,344 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $34.84, for a total value of $116,504.96. Following the transaction, the insider now owns 15,595 shares in the company, valued at approximately $543,329.80. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock worth $289,103 in the last 90 days. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Everbridge

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVBG. Vanguard Group Inc. boosted its position in shares of Everbridge by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 5,960,756 shares of the technology company’s stock valued at $144,906,000 after acquiring an additional 163,180 shares during the period. Clearbridge Investments LLC boosted its position in shares of Everbridge by 0.7% in the third quarter. Clearbridge Investments LLC now owns 2,027,344 shares of the technology company’s stock valued at $45,453,000 after acquiring an additional 13,200 shares during the period. First Trust Advisors LP boosted its position in shares of Everbridge by 21.7% in the fourth quarter. First Trust Advisors LP now owns 949,718 shares of the technology company’s stock valued at $23,088,000 after acquiring an additional 169,381 shares during the period. Lead Edge Capital Management LLC bought a new stake in shares of Everbridge in the third quarter valued at approximately $18,568,000. Finally, Geode Capital Management LLC boosted its position in shares of Everbridge by 6.1% in the second quarter. Geode Capital Management LLC now owns 826,463 shares of the technology company’s stock valued at $22,232,000 after acquiring an additional 47,714 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s stock.

Everbridge Company Profile

Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables 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.