Everbridge (NASDAQ:EVBG) Hits New 52-Week Low on Analyst Downgrade

Everbridge, Inc. (NASDAQ:EVBG) reached a new 52-week low on Friday after Raymond James lowered their price target on the stock from $30.00 to $24.00. Raymond James currently has an outperform rating on the stock. Everbridge traded as low as $18.50 and last traded at $19.27, with a volume of 148145 shares trading hands. The stock had previously closed at $20.18.

A number of other equities analysts have also commented on EVBG. StockNews.com started coverage on shares of Everbridge in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Barclays reduced their target price on shares of Everbridge from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 9th. The Goldman Sachs Group reduced their target price on shares of Everbridge from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of Everbridge in a research report on Wednesday, August 9th. Finally, Truist Financial reduced their target price on shares of Everbridge from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Everbridge has an average rating of “Hold” and a consensus target price of $26.13.

Insider Buying and Selling

In related news, CEO David Wagner sold 3,160 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $20.58, for a total transaction of $65,032.80. Following the completion of the sale, the chief executive officer now directly owns 46,949 shares of the company’s stock, valued at $966,210.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 5,550 shares of company stock valued at $119,213 over the last ninety days. Insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Everbridge

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Everbridge by 1.4% in the third quarter. Rhumbline Advisers now owns 56,563 shares of the technology company’s stock valued at $1,268,000 after purchasing an additional 782 shares in the last quarter. Deutsche Bank AG increased its stake in Everbridge by 43.9% in the third quarter. Deutsche Bank AG now owns 148,672 shares of the technology company’s stock valued at $3,333,000 after purchasing an additional 45,384 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Everbridge in the third quarter valued at approximately $2,650,000. Charles Schwab Investment Management Inc. increased its stake in Everbridge by 22.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 368,508 shares of the technology company’s stock valued at $8,262,000 after purchasing an additional 66,480 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Everbridge by 29.1% in the third quarter. First Eagle Investment Management LLC now owns 428,083 shares of the technology company’s stock valued at $9,598,000 after purchasing an additional 96,621 shares in the last quarter. Institutional investors own 91.44% of the company’s stock.

Everbridge Price Performance

The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market cap of $853.11 million, a P/E ratio of -18.86, a P/E/G ratio of 1.76 and a beta of 0.84. The company’s 50 day simple moving average is $21.97 and its 200 day simple moving average is $24.68.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings data on Thursday, November 9th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.17. Everbridge had a negative net margin of 2.63% and a positive return on equity of 6.65%. The company had revenue of $114.19 million during the quarter, compared to the consensus estimate of $113.65 million. As a group, equities analysts forecast that Everbridge, Inc. will post 0.26 earnings per share for the current year.

Everbridge Company Profile

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.