Everbridge (EVBG) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Everbridge (NASDAQ:EVBG) announced its earnings results on Monday. The technology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.05, Morningstar.com reports. The company had revenue of $38.90 million for the quarter, compared to analysts’ expectations of $38.09 million. Everbridge had a negative return on equity of 64.53% and a negative net margin of 31.96%. Everbridge’s quarterly revenue was up 42.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Everbridge updated its Q4 guidance to ($0.11)-($0.10) EPS.

EVBG stock opened at $51.95 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.50 and a current ratio of 1.50. Everbridge has a 1-year low of $23.87 and a 1-year high of $63.00. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -91.14 and a beta of 1.58.

In other news, CEO Jaime Wallace Ellertson sold 6,943 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $60.76, for a total transaction of $421,856.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Elliot J. Mark sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $60.28, for a total value of $210,980.00. The disclosure for this sale can be found here. In the last three months, insiders sold 125,013 shares of company stock worth $6,841,229. Insiders own 11.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of EVBG. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Everbridge by 197.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,170 shares of the technology company’s stock valued at $198,000 after purchasing an additional 2,767 shares during the period. Raymond James Trust N.A. bought a new stake in shares of Everbridge during the 3rd quarter valued at $236,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Everbridge during the 2nd quarter valued at $238,000. Teacher Retirement System of Texas bought a new stake in shares of Everbridge during the 2nd quarter valued at $244,000. Finally, Cannell Peter B & Co. Inc. bought a new stake in shares of Everbridge during the 3rd quarter valued at $244,000. 88.96% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on the company. Robert W. Baird assumed coverage on Everbridge in a research report on Monday, October 22nd. They issued an “outperform” rating and a $60.00 price objective on the stock. Zacks Investment Research cut Everbridge from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. BidaskClub cut Everbridge from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group boosted their price objective on Everbridge from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 7th. Finally, Northland Securities reissued a “buy” rating and issued a $55.00 price objective on shares of Everbridge in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Everbridge currently has a consensus rating of “Buy” and a consensus target price of $51.50.

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About Everbridge

Everbridge, Inc operates as a software company in the United States, Sweden, England, and China. The company offers Critical Event Management, a SaaS-based platform with various software applications that address tasks an organization has to perform to manage a critical event, including Mass Notification, which 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, which 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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Earnings History for Everbridge (NASDAQ:EVBG)

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