StockNews.com Initiates Coverage on Everbridge (NASDAQ:EVBG)

Analysts at StockNews.com assumed coverage on shares of Everbridge (NASDAQ:EVBG) in a report released on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

Several other research analysts have also recently issued reports on the stock. Truist Financial raised their target price on shares of Everbridge from $20.00 to $35.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Canaccord Genuity Group lifted their price objective on shares of Everbridge from $28.60 to $35.00 and gave the company a “hold” rating in a report on Monday, March 4th. Robert W. Baird lifted their price objective on shares of Everbridge from $21.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Raymond James reaffirmed a “market perform” rating on shares of Everbridge in a report on Wednesday, February 7th. Finally, William Blair cut shares of Everbridge from an “outperform” rating to a “market perform” rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $29.00.

Everbridge Price Performance

NASDAQ EVBG opened at $34.86 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day moving average price is $31.92 and its 200-day moving average price is $25.33. Everbridge has a 52-week low of $18.50 and a 52-week high of $35.70. The company has a market cap of $1.45 billion, a PE ratio of -24.38, a P/E/G ratio of 0.94 and a beta of 0.96.

Everbridge (NASDAQ:EVBG) last announced its earnings results on Monday, February 26th. The technology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $115.76 million during the quarter, compared to analyst estimates of $114.70 million. Everbridge had a negative net margin of 10.54% and a positive return on equity of 6.46%. Sell-side analysts forecast that Everbridge will post 0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Patrick Brickley sold 6,360 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.79, for a total value of $144,944.40. Following the sale, the chief financial officer now directly owns 124,985 shares of the company’s stock, valued at approximately $2,848,408.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Bryan Reed Barney sold 3,344 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $34.84, for a total value of $116,504.96. Following the sale, the insider now directly owns 15,595 shares of the company’s stock, valued at approximately $543,329.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patrick Brickley sold 6,360 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $22.79, for a total transaction of $144,944.40. Following the completion of the sale, the chief financial officer now directly owns 124,985 shares in the company, valued at $2,848,408.15. The disclosure for this sale can be found here. Insiders have sold 10,747 shares of company stock valued at $289,103 over the last ninety days. Company insiders own 0.44% of the company’s stock.

Institutional Investors Weigh In On Everbridge

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in Everbridge by 140.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 841 shares of the technology company’s stock worth $25,000 after acquiring an additional 491 shares in the last quarter. State of Wyoming acquired a new position in shares of Everbridge in the 4th quarter valued at $28,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Everbridge in the 4th quarter valued at $45,000. Point72 Middle East FZE acquired a new position in shares of Everbridge in the 4th quarter valued at $49,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Everbridge in the 1st quarter valued at $90,000. 89.95% of the stock is owned by hedge funds and other institutional investors.

About Everbridge

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.