Credit Suisse Group Increases Everbridge (EVBG) Price Target to $85.00

Everbridge (NASDAQ:EVBG) had its price target upped by Credit Suisse Group from $72.00 to $85.00 in a research report report published on Tuesday, May 7th, The Fly reports. They currently have an outperform rating on the technology company’s stock.

A number of other analysts have also commented on EVBG. Zacks Investment Research raised shares of Everbridge from a sell rating to a hold rating in a report on Thursday, January 10th. BidaskClub raised shares of Everbridge from a buy rating to a strong-buy rating in a report on Tuesday, February 5th. JPMorgan Chase & Co. assumed coverage on shares of Everbridge in a report on Wednesday, February 6th. They issued a neutral rating and a $69.00 price target for the company. Canaccord Genuity boosted their price target on shares of Everbridge from $57.00 to $75.00 and gave the company a buy rating in a report on Wednesday, February 20th. Finally, SunTrust Banks boosted their price target on shares of Everbridge to $73.00 and gave the company a buy rating in a report on Wednesday, February 20th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $76.00.

EVBG stock opened at $80.42 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.42 and a quick ratio of 2.42. Everbridge has a fifty-two week low of $41.94 and a fifty-two week high of $85.14. The company has a market capitalization of $2.64 billion, a P/E ratio of -56.24 and a beta of 0.93.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings data on Monday, May 6th. The technology company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.09. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. The firm had revenue of $42.82 million during the quarter, compared to analysts’ expectations of $42.23 million. During the same quarter in the previous year, the company posted ($0.17) EPS. Everbridge’s revenue was up 40.3% on a year-over-year basis. As a group, sell-side analysts forecast that Everbridge will post -1.41 EPS for the current fiscal year.

In other Everbridge news, SVP Elliot J. Mark sold 1,609 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $75.00, for a total transaction of $120,675.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert W. Hughes sold 12,822 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $72.45, for a total transaction of $928,953.90. The disclosure for this sale can be found here. Insiders have sold a total of 350,865 shares of company stock worth $28,110,914 over the last three months. Insiders own 2.20% of the company’s stock.

A number of large investors have recently modified their holdings of EVBG. Victory Capital Management Inc. bought a new stake in Everbridge during the 1st quarter worth about $27,484,000. Morgan Stanley raised its holdings in shares of Everbridge by 279.2% in the 3rd quarter. Morgan Stanley now owns 356,257 shares of the technology company’s stock valued at $20,534,000 after purchasing an additional 262,312 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Everbridge by 89.5% in the 4th quarter. Bank of New York Mellon Corp now owns 539,073 shares of the technology company’s stock valued at $30,598,000 after purchasing an additional 254,536 shares during the period. Polar Capital LLP raised its holdings in shares of Everbridge by 52.6% in the 4th quarter. Polar Capital LLP now owns 700,538 shares of the technology company’s stock valued at $39,763,000 after purchasing an additional 241,458 shares during the period. Finally, Sylebra HK Co Ltd bought a new stake in shares of Everbridge in the 1st quarter valued at about $17,522,000. 96.93% of the stock is currently owned by hedge funds and other institutional investors.

About Everbridge

Everbridge, Inc operates as a software company in the United States and internationally. The company's Critical Event Management, a software as a service based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification that enables enterprises and governmental entities to send notifications to individuals or groups to keep them informed before, during, and after natural or man-made disasters, and other emergencies; Safety Connection that enables organizations to send notifications based on last known location of an individual; Incident Management that enables organizations to automate workflows and make their communications relevant; and IT Alerting that enables IT professionals to alert and communicate with members of their teams during an IT incident or outage.

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