Everbridge (NASDAQ:EVBG) Shares Down 8.4% on Analyst Downgrade

Shares of Everbridge, Inc. (NASDAQ:EVBGGet Rating) were down 8.4% during mid-day trading on Tuesday after StockNews.com downgraded the stock from a hold rating to a sell rating. The company traded as low as $25.59 and last traded at $25.66. Approximately 4,192 shares changed hands during trading, a decline of 99% from the average daily volume of 612,784 shares. The stock had previously closed at $28.00.

Several other research analysts have also issued reports on the company. Barclays reduced their target price on Everbridge from $40.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Monday. Stifel Nicolaus cut their price objective on shares of Everbridge from $40.00 to $32.00 in a report on Monday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.43.

Insiders Place Their Bets

In other news, insider Ajay Nigam sold 3,316 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $39.29, for a total value of $130,285.64. Following the sale, the insider now owns 15,140 shares in the company, valued at $594,850.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Vernon Irvin sold 794 shares of Everbridge stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,378 shares of the company’s stock, valued at approximately $102,515.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ajay Nigam sold 3,316 shares of Everbridge stock in a transaction that occurred 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 directly owns 15,140 shares of the company’s stock, valued at $594,850.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,839 shares of company stock valued at $195,628. Company insiders own 0.44% of the company’s stock.

Hedge Funds Weigh In On Everbridge

Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in Everbridge by 419.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,173 shares of the technology company’s stock valued at $79,000 after acquiring an additional 947 shares during the period. Canada Pension Plan Investment Board grew its stake in Everbridge by 1,959.6% in the 4th quarter. Canada Pension Plan Investment Board now owns 34,849 shares of the technology company’s stock valued at $2,346,000 after acquiring an additional 33,157 shares during the period. PDT Partners LLC acquired a new stake in Everbridge in the 4th quarter valued at $472,000. Tensile Capital Management LP acquired a new stake in Everbridge in the 4th quarter valued at $11,775,000. Finally, Xponance Inc. grew its stake in Everbridge by 10.2% in the 1st quarter. Xponance Inc. now owns 4,597 shares of the technology company’s stock valued at $201,000 after acquiring an additional 424 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

Everbridge Stock Down 9.1 %

The business’s 50 day moving average is $33.09 and its 200-day moving average is $41.23. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -10.65 and a beta of 1.01. The company has a debt-to-equity ratio of 2.63, a quick ratio of 2.08 and a current ratio of 2.08.

Everbridge (NASDAQ:EVBGGet Rating) last released its quarterly earnings results on Monday, May 9th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.56. Everbridge had a negative net margin of 23.82% and a negative return on equity of 9.28%. The firm had revenue of $100.38 million for the quarter, compared to analysts’ expectations of $98.82 million. During the same quarter last year, the company earned ($0.13) EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, sell-side analysts predict that Everbridge, Inc. will post -1.55 EPS for the current fiscal year.

About Everbridge

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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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