Everbridge (NASDAQ:EVBG) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Everbridge (NASDAQ:EVBGGet Rating) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on the company. Truist Financial cut Everbridge from a buy rating to a hold rating and reduced their price objective for the company from $85.00 to $42.00 in a research report on Friday, February 25th. Raymond James dropped their price objective on Everbridge from $80.00 to $50.00 and set an outperform rating for the company in a research note on Friday, February 25th. Wells Fargo & Company dropped their price objective on Everbridge from $50.00 to $36.00 and set an equal weight rating for the company in a research note on Friday, February 25th. Bank of America dropped their price objective on Everbridge from $75.00 to $30.00 and set an underperform rating for the company in a research note on Friday, February 25th. Finally, Stifel Nicolaus decreased their target price on Everbridge from $100.00 to $40.00 and set a hold rating on the stock in a research report on Friday, February 25th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $73.47.

Shares of NASDAQ:EVBG opened at $38.57 on Wednesday. The stock has a fifty day simple moving average of $43.58 and a two-hundred day simple moving average of $65.12. Everbridge has a 12-month low of $27.81 and a 12-month high of $167.40. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 2.63.

Everbridge (NASDAQ:EVBGGet Rating) last posted its quarterly earnings results on Monday, May 9th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.16. Everbridge had a negative return on equity of 9.28% and a negative net margin of 23.82%. The firm had revenue of $100.38 million during the quarter, compared to analysts’ expectations of $98.82 million. During the same quarter in the previous year, the business earned ($0.13) earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Research analysts predict that Everbridge will post -1.3 earnings per share for the current fiscal year.

In other Everbridge news, insider Ajay Nigam sold 3,316 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $39.29, for a total transaction of $130,285.64. Following the transaction, the insider now owns 15,140 shares in the company, valued at $594,850.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vernon Irvin sold 794 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $43.11, for a total transaction of $34,229.34. Following the transaction, the chief executive officer now owns 2,378 shares in the company, valued at approximately $102,515.58. The disclosure for this sale can be found here. Insiders have sold 4,474 shares of company stock worth $180,207 in the last quarter. Company insiders own 0.44% of the company’s stock.

A number of hedge funds have recently bought and sold shares of EVBG. Prospera Financial Services Inc bought a new position in shares of Everbridge in the first quarter worth about $27,000. Manchester Capital Management LLC grew its holdings in shares of Everbridge by 2,757.1% in the third quarter. Manchester Capital Management LLC now owns 200 shares of the technology company’s stock worth $30,000 after purchasing an additional 193 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Everbridge by 71.4% in the third quarter. First Horizon Advisors Inc. now owns 168 shares of the technology company’s stock worth $36,000 after purchasing an additional 70 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Everbridge by 75.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 700 shares of the technology company’s stock worth $47,000 after purchasing an additional 300 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Everbridge by 571.0% in the first quarter. Signaturefd LLC now owns 1,181 shares of the technology company’s stock worth $52,000 after purchasing an additional 1,005 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Everbridge Company Profile (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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