Analysts Anticipate Everbridge, Inc. (NASDAQ:EVBG) Will Post Quarterly Sales of $98.85 Million

Wall Street brokerages expect Everbridge, Inc. (NASDAQ:EVBGGet Rating) to announce sales of $98.85 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Everbridge’s earnings. The highest sales estimate is $98.89 million and the lowest is $98.80 million. Everbridge posted sales of $82.21 million during the same quarter last year, which suggests a positive year over year growth rate of 20.2%. The company is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Everbridge will report full-year sales of $428.56 million for the current financial year, with estimates ranging from $426.00 million to $431.12 million. For the next fiscal year, analysts forecast that the business will report sales of $504.50 million, with estimates ranging from $496.00 million to $511.40 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Everbridge.

Everbridge (NASDAQ:EVBGGet Rating) last issued its earnings results on Thursday, February 24th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.69. The company had revenue of $102.80 million during the quarter, compared to analysts’ expectations of $102.10 million. Everbridge had a negative net margin of 25.73% and a negative return on equity of 8.51%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) EPS.

EVBG has been the subject of several analyst reports. Stephens dropped their target price on shares of Everbridge from $200.00 to $58.00 and set an “overweight” rating for the company in a research report on Friday, February 25th. Truist Financial lowered shares of Everbridge from a “buy” rating to a “hold” rating and decreased their price target for the company from $85.00 to $42.00 in a report on Friday, February 25th. Raymond James decreased their price target on shares of Everbridge from $80.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Wells Fargo & Company decreased their price target on shares of Everbridge from $50.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, February 25th. Finally, Barclays decreased their price target on shares of Everbridge from $60.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday, February 28th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $73.47.

In other news, CEO Patrick Brickley sold 6,625 shares of the company’s stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $50.66, for a total value of $335,622.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ajay Nigam sold 2,169 shares of the company’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $50.66, for a total transaction of $109,881.54. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Sylebra Capital Ltd lifted its holdings in shares of Everbridge by 12.3% in the third quarter. Sylebra Capital Ltd now owns 2,007,931 shares of the technology company’s stock worth $303,278,000 after buying an additional 220,553 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Everbridge by 22.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,585,535 shares of the technology company’s stock valued at $106,754,000 after buying an additional 295,278 shares during the period. Macquarie Group Ltd. lifted its position in Everbridge by 50.3% during the third quarter. Macquarie Group Ltd. now owns 1,163,165 shares of the technology company’s stock valued at $175,685,000 after buying an additional 389,386 shares during the period. Alliancebernstein L.P. raised its position in shares of Everbridge by 29.6% in the 3rd quarter. Alliancebernstein L.P. now owns 838,632 shares of the technology company’s stock worth $126,667,000 after purchasing an additional 191,692 shares during the last quarter. Finally, Spyglass Capital Management LLC raised its position in shares of Everbridge by 21.5% in the 4th quarter. Spyglass Capital Management LLC now owns 802,257 shares of the technology company’s stock worth $54,016,000 after purchasing an additional 141,986 shares during the last quarter.

Shares of NASDAQ:EVBG opened at $43.10 on Friday. The firm has a 50 day moving average of $42.98 and a 200-day moving average of $74.72. The stock has a market capitalization of $1.70 billion, a PE ratio of -17.17 and a beta of 0.87. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 1.44. Everbridge has a 12 month low of $27.81 and a 12 month high of $167.40.

About Everbridge (Get Rating)

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.

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