Everbridge (NASDAQ:EVBG) Issues Q2 2022 Earnings Guidance

Everbridge (NASDAQ:EVBGGet Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -$0.13–$0.11 for the period, compared to the consensus estimate of $0.02. The company issued revenue guidance of $101.80 million-$102.20 million, compared to the consensus revenue estimate of $101.88 million.Everbridge also updated its FY 2022 guidance to $0.23-$0.27 EPS.

Several research firms recently issued reports on EVBG. Barclays decreased their target price on shares of Everbridge from $60.00 to $40.00 and set an equal weight rating for the company in a research note on Monday, February 28th. Stephens reduced their target price on shares of Everbridge from $200.00 to $58.00 and set an overweight rating on the stock in a research note on Friday, February 25th. Raymond James lowered their target price on shares of Everbridge from $80.00 to $50.00 and set an outperform rating for the company in a research note on Friday, February 25th. Canaccord Genuity Group lowered their price objective on Everbridge from $178.00 to $59.00 in a research report on Friday, February 25th. Finally, Zacks Investment Research cut shares of Everbridge from a buy rating to a hold rating in a report on Wednesday, May 18th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $73.47.

NASDAQ:EVBG opened at $41.18 on Monday. The firm has a 50-day moving average of $43.94 and a two-hundred day moving average of $62.17. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $1.63 billion, a P/E ratio of -17.23 and a beta of 0.83. Everbridge has a 1-year low of $27.81 and a 1-year high of $167.40.

Everbridge (NASDAQ:EVBGGet Rating) last issued its quarterly earnings results on Monday, May 9th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $98.82 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Everbridge’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts expect that Everbridge will post -1.56 earnings per share for the current year.

In other news, insider Ajay Nigam sold 3,316 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $39.29, for a total value of $130,285.64. Following the transaction, the insider now directly owns 15,140 shares of the company’s stock, 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 Everbridge 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 completion of the sale, the chief executive officer now directly owns 2,378 shares of the company’s stock, valued at approximately $102,515.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,474 shares of company stock valued at $180,207. Insiders own 0.44% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Washington Harbour Partners LP acquired a new position in shares of Everbridge in the 1st quarter worth approximately $14,314,000. Weiss Multi Strategy Advisers LLC grew its position in shares of Everbridge by 230.2% during the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 115,000 shares of the technology company’s stock worth $5,019,000 after buying an additional 80,170 shares during the period. Point72 Hong Kong Ltd bought a new stake in shares of Everbridge during the 1st quarter valued at $90,000. Delphia USA Inc. acquired a new stake in shares of Everbridge in the 1st quarter valued at approximately $233,000. Finally, Graham Capital Management L.P. acquired a new stake in Everbridge in the first quarter worth $625,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

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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