Truist Financial Lowers Everbridge (NASDAQ:EVBG) Price Target to $20.00

Everbridge (NASDAQ:EVBG) had its price target reduced by Truist Financial from $23.00 to $20.00 in a research report report published on Friday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

A number of other research firms have also commented on EVBG. The Goldman Sachs Group decreased their price objective on Everbridge from $27.00 to $23.00 and set a sell rating on the stock in a research note on Friday. Stephens cut their price target on Everbridge from $30.00 to $26.00 and set an equal weight rating on the stock in a report on Wednesday, August 9th. StockNews.com started coverage on Everbridge in a research note on Thursday, October 5th. They issued a hold rating on the stock. Raymond James lowered their price target on Everbridge from $34.00 to $30.00 and set an outperform rating on the stock in a report on Wednesday, August 9th. Finally, Needham & Company LLC reissued a buy rating and set a $35.00 price objective on shares of Everbridge in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Everbridge has an average rating of Hold and a consensus price target of $26.13.

Everbridge Price Performance

EVBG stock opened at $20.93 on Friday. The business has a 50 day moving average price of $21.97 and a 200 day moving average price of $24.67. The stock has a market cap of $853.13 million, a price-to-earnings ratio of -18.86, a PEG ratio of 1.83 and a beta of 0.84. Everbridge has a fifty-two week low of $18.50 and a fifty-two week high of $36.41. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.70.

Everbridge (NASDAQ:EVBG) last posted its earnings results on Thursday, November 9th. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.17. Everbridge had a positive return on equity of 6.65% and a negative net margin of 2.63%. The firm had revenue of $114.19 million during the quarter, compared to analysts’ expectations of $113.65 million. Equities research analysts anticipate that Everbridge will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at Everbridge

In other Everbridge news, CEO David Wagner sold 3,160 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 5,550 shares of company stock worth $119,213. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EVBG. Vanguard Group Inc. grew its holdings in shares of Everbridge by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,018,952 shares of the technology company’s stock valued at $154,985,000 after purchasing an additional 195,327 shares during the period. Fred Alger Management LLC grew its position in Everbridge by 11.8% in the 1st quarter. Fred Alger Management LLC now owns 2,122,198 shares of the technology company’s stock valued at $73,577,000 after buying an additional 223,680 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Everbridge by 3.1% during the 2nd quarter. Clearbridge Investments LLC now owns 2,014,144 shares of the technology company’s stock worth $54,180,000 after purchasing an additional 60,537 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Everbridge by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 826,463 shares of the technology company’s stock worth $22,232,000 after buying an additional 47,714 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Everbridge by 61.9% in the 1st quarter. First Trust Advisors LP now owns 797,030 shares of the technology company’s stock valued at $34,782,000 after purchasing an additional 304,867 shares during the last quarter. Hedge funds and other institutional investors own 91.44% of the company’s stock.

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.