Everbridge (NASDAQ:EVBG) Updates FY 2022 Earnings Guidance

Everbridge (NASDAQ:EVBG – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $0.23-$0.27 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $428.20 million-$432.80 million, compared to the consensus revenue estimate of $428.50 million.Everbridge also updated its Q2 2022 guidance to -$0.13–$0.11 EPS.

NASDAQ:EVBG opened at $41.18 on Monday. Everbridge has a one year low of $27.81 and a one year high of $167.40. The stock has a market cap of $1.63 billion, a PE ratio of -17.23 and a beta of 0.83. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a 50 day moving average price of $43.94 and a 200 day moving average price of $62.17.

Everbridge (NASDAQ:EVBG – Get Rating) last issued its earnings results on Monday, May 9th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating 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 company had revenue of $100.38 million during the quarter, compared to analysts’ expectations of $98.82 million. During the same period in the prior year, the business earned ($0.13) EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts predict that Everbridge will post -1.56 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on EVBG. Wells Fargo & Company cut their price target on shares of Everbridge from $50.00 to $36.00 and set an equal weight rating for the company in a report on Friday, February 25th. Zacks Investment Research downgraded Everbridge from a buy rating to a hold rating in a research report on Wednesday, May 18th. Truist Financial cut shares of Everbridge from a buy rating to a hold rating and decreased their target price for the company from $85.00 to $42.00 in a research report on Friday, February 25th. StockNews.com initiated coverage on shares of Everbridge in a research report on Thursday, March 31st. They set a sell rating for the company. Finally, Stifel Nicolaus cut 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 research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Everbridge has an average rating of Hold and a consensus target price of $73.47.

In other news, insider Ajay Nigam sold 3,316 shares of the firm’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 completion of the sale, the insider now owns 15,140 shares in the company, valued at approximately $594,850.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vernon Irvin sold 794 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $43.11, for a total value 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. In the last three months, insiders have sold 4,474 shares of company stock worth $180,207. 0.44% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of EVBG. Virtu Financial LLC boosted its position in Everbridge by 446.7% during the fourth quarter. Virtu Financial LLC now owns 10,841 shares of the technology company’s stock worth $730,000 after purchasing an additional 8,858 shares in the last quarter. Mariner LLC raised its stake in Everbridge by 26.3% in the 1st quarter. Mariner LLC now owns 16,180 shares of the technology company’s stock valued at $706,000 after purchasing an additional 3,374 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Everbridge in the 1st quarter valued at about $625,000. LPL Financial LLC boosted its position in Everbridge by 7.0% during the fourth quarter. LPL Financial LLC now owns 9,005 shares of the technology company’s stock worth $606,000 after acquiring an additional 587 shares during the last quarter. Finally, Amalgamated Bank grew its stake in Everbridge by 16.7% in the 4th quarter. Amalgamated Bank now owns 8,101 shares of the technology company’s stock worth $545,000 after acquiring an additional 1,161 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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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