Everbridge (NASDAQ:EVBG) Price Target Raised to $105.00

Everbridge (NASDAQ:EVBG) had its target price increased by stock analysts at Canaccord Genuity from $85.00 to $105.00 in a research note issued on Friday, June 21st, The Fly reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 5.83% from the stock’s current price.

EVBG has been the topic of a number of other reports. Credit Suisse Group cut shares of COCA COLA AMATI/ADR from an “outperform” rating to a “neutral” rating in a research report on Thursday, June 20th. KeyCorp lifted their price target on shares of Paylocity from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Stifel Nicolaus lifted their price target on shares of Everbridge from $91.00 to $100.00 in a research report on Thursday, June 20th. Raymond James reduced their price target on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 7th. Finally, Stephens reissued a “buy” rating and set a $74.00 target price on shares of Everbridge in a research report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $92.42.

Everbridge stock traded up $0.86 during trading on Friday, reaching $99.22. The company had a trading volume of 202,499 shares, compared to its average volume of 709,243. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -69.38 and a beta of 0.83. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.52. Everbridge has a 12-month low of $41.94 and a 12-month high of $99.49. The business’s 50 day moving average price is $87.17.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings results on Monday, May 6th. The technology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. The firm had revenue of $42.82 million for the quarter, compared to analysts’ expectations of $42.23 million. Everbridge had a negative net margin of 30.93% and a negative return on equity of 52.04%. Everbridge’s revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) earnings per share. Equities analysts expect that Everbridge will post -1.41 earnings per share for the current year.

In related news, SVP Elliot J. Mark sold 3,690 shares of Everbridge stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $91.49, for a total value of $337,598.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Hughes sold 15,625 shares of Everbridge stock in a transaction on Monday, June 24th. The stock was sold at an average price of $91.82, for a total transaction of $1,434,687.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 435,747 shares of company stock worth $35,777,329. Corporate insiders own 2.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB bought a new position in shares of Everbridge during the second quarter worth about $259,000. Zweig DiMenna Associates LLC grew its position in shares of Everbridge by 12.6% during the second quarter. Zweig DiMenna Associates LLC now owns 86,447 shares of the technology company’s stock worth $7,730,000 after acquiring an additional 9,667 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in shares of Everbridge by 6.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 9,147 shares of the technology company’s stock worth $686,000 after acquiring an additional 572 shares during the last quarter. Rehmann Capital Advisory Group grew its position in shares of Everbridge by 68.1% during the first quarter. Rehmann Capital Advisory Group now owns 1,716 shares of the technology company’s stock worth $129,000 after acquiring an additional 695 shares during the last quarter. Finally, Trexquant Investment LP grew its position in shares of Everbridge by 272.0% during the first quarter. Trexquant Investment LP now owns 24,177 shares of the technology company’s stock worth $1,814,000 after acquiring an additional 17,677 shares during the last quarter. Institutional investors and hedge funds own 96.93% of the company’s stock.

Everbridge Company Profile

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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