Everbridge, Inc. (EVBG) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research lowered shares of Everbridge, Inc. (NASDAQ:EVBG) from a hold rating to a sell rating in a report released on Tuesday morning.
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. “
EVBG has been the topic of a number of other research reports. KeyCorp reiterated a buy rating and issued a $27.00 price target on shares of Everbridge in a research note on Friday, August 4th. Stifel Nicolaus raised their price objective on shares of Everbridge from $27.00 to $30.00 and gave the company a buy rating in a research note on Monday, September 18th. Canaccord Genuity raised their price objective on shares of Everbridge from $27.00 to $28.00 and gave the company a buy rating in a research note on Friday, August 4th. William Blair reaffirmed a buy rating on shares of Everbridge in a report on Monday, September 25th. Finally, Northland Securities started coverage on shares of Everbridge in a report on Wednesday, August 30th. They issued an outperform rating and a $28.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. Everbridge has an average rating of Buy and an average price target of $26.09.
Everbridge (NASDAQ:EVBG) traded up 0.07% during trading on Tuesday, hitting $26.76. 52,546 shares of the company’s stock traded hands. The company’s 50 day moving average is $25.06 and its 200-day moving average is $25.06. The stock’s market cap is $751.82 million. Everbridge has a 12 month low of $12.92 and a 12 month high of $27.50.
Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $25.00 million during the quarter, compared to the consensus estimate of $24.49 million. Everbridge had a negative return on equity of 26.39% and a negative net margin of 16.72%. Everbridge’s revenue was up 34.4% compared to the same quarter last year. On average, analysts predict that Everbridge will post ($0.28) earnings per share for the current year.
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In related news, SVP Gary R. Phillips sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $22.04, for a total value of $330,600.00. Following the sale, the senior vice president now owns 1,045 shares in the company, valued at $23,031.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cintawati W. Putra sold 58,000 shares of Everbridge stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $23.72, for a total transaction of $1,375,760.00. The disclosure for this sale can be found here. Insiders sold a total of 279,525 shares of company stock valued at $6,479,586 over the last quarter. 41.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in EVBG. Teachers Advisors LLC purchased a new stake in Everbridge during the 4th quarter valued at $180,000. Wells Fargo & Company MN lifted its holdings in shares of Everbridge by 404.7% during the 1st quarter. Wells Fargo & Company MN now owns 27,652 shares of the technology company’s stock valued at $568,000 after buying an additional 22,173 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Everbridge by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 118,442 shares of the technology company’s stock valued at $2,432,000 after buying an additional 325 shares during the period. Ameriprise Financial Inc. bought a new position in shares of Everbridge during the 1st quarter valued at $5,165,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Everbridge by 6.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 19,687 shares of the technology company’s stock worth $404,000 after buying an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 51.22% 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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