Everbridge, Inc. (EVBG) Trading Up 7.4% Following Analyst Upgrade
Everbridge, Inc. (NASDAQ:EVBG)’s share price was up 7.4% during trading on Monday after ValuEngine upgraded the stock from a sell rating to a hold rating. The company traded as high as $25.75 and last traded at $25.25. Approximately 648,532 shares changed hands during mid-day trading, an increase of 88% from the average daily volume of 344,120 shares. The stock had previously closed at $23.50.
Other equities analysts have also issued reports about the company. Canaccord Genuity lifted their price objective on Everbridge from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. KeyCorp reiterated a “buy” rating and issued a $27.00 price objective on shares of Everbridge in a research note on Friday, August 4th. SunTrust Banks, Inc. started coverage on Everbridge in a research note on Monday, June 26th. They issued a “buy” rating and a $32.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Everbridge from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Northland Securities started coverage on Everbridge in a research note on Wednesday, August 30th. They issued an “outperform” rating and a $28.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Everbridge presently has a consensus rating of “Buy” and an average price target of $26.09.
In related news, SVP Imad Mouline sold 3,493 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $23.34, for a total transaction of $81,526.62. Following the transaction, the senior vice president now directly owns 232,301 shares in the company, valued at $5,421,905.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Claudia Dent sold 4,000 shares of Everbridge stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $25.95, for a total value of $103,800.00. The disclosure for this sale can be found here. Insiders have sold 279,423 shares of company stock worth $6,487,473 over the last 90 days. Corporate insiders own 41.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVBG. Legal & General Group Plc boosted its holdings in 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 purchasing an additional 2,885 shares in the last quarter. American International Group Inc. acquired a new stake in Everbridge during the first quarter valued at approximately $108,000. Fortaleza Asset Management Inc. acquired a new stake in Everbridge during the second quarter valued at approximately $166,000. Teachers Advisors LLC acquired a new stake in Everbridge during the fourth quarter valued at approximately $180,000. Finally, Nationwide Fund Advisors boosted its holdings in Everbridge by 210.1% during the second 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 in the last quarter. 51.22% of the stock is currently owned by institutional investors.
The company’s market cap is $709.40 million. The firm’s 50 day moving average price is $23.74 and its 200-day moving average price is $22.98.
Everbridge (NASDAQ:EVBG) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $24.49 million. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year. On average, analysts predict that Everbridge, Inc. will post ($0.28) EPS for the current fiscal year.
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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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