Credit Suisse Group Raises Everbridge (NASDAQ:EVBG) Price Target to $100.00

Everbridge (NASDAQ:EVBG) had its target price upped by research analysts at Credit Suisse Group from $85.00 to $100.00 in a report released on Thursday, June 20th, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. Credit Suisse Group’s target price points to a potential upside of 0.79% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. KeyCorp upped their price objective on shares of Paylocity from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of Everbridge in a research report on Thursday, June 20th. BidaskClub cut shares of Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Raymond James reduced their price objective on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Finally, Stephens restated a “buy” rating and set a $74.00 price objective on shares of Everbridge in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $92.42.

Shares of EVBG traded up $0.86 during trading hours on Thursday, hitting $99.22. The stock had a trading volume of 202,499 shares, compared to its average volume of 709,243. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.42 and a quick ratio of 2.42. The business’s 50-day moving average is $87.17. Everbridge has a fifty-two week low of $41.94 and a fifty-two week high of $99.49. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -69.38 and a beta of 0.83.

Everbridge (NASDAQ:EVBG) last posted its earnings results on Monday, May 6th. The technology company reported ($0.39) earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business posted ($0.17) EPS. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, research analysts expect that Everbridge will post -1.41 EPS for the current fiscal year.

In related news, SVP Elliot J. Mark sold 3,690 shares of the company’s stock in a transaction dated 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 this link. Also, SVP Imad Mouline sold 3,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $72.54, for a total transaction of $217,620.00. The disclosure for this sale can be found here. Insiders sold 435,747 shares of company stock valued at $35,777,329 over the last quarter. Company insiders own 2.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB purchased a new position in shares of Everbridge during the second quarter worth approximately $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. 96.93% of the stock is 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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