Needham & Company LLC Reiterates Buy Rating for Everbridge (NASDAQ:EVBG)

Needham & Company LLC reissued their buy rating on shares of Everbridge (NASDAQ:EVBG) in a research note published on Wednesday, AnalystRatings.com reports. They currently have a $175.00 price target on the technology company’s stock.

EVBG has been the subject of several other research reports. JPMorgan Chase & Co. upgraded shares of Everbridge from a neutral rating to an overweight rating and set a $200.00 price target for the company in a report on Thursday, February 25th. Credit Suisse Group restated a neutral rating and issued a $145.00 price target on shares of Everbridge in a report on Monday, March 29th. Finally, Northland Securities boosted their price target on shares of Everbridge from $155.00 to $165.00 in a report on Friday, February 19th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Everbridge currently has an average rating of Buy and an average price target of $161.08.

Everbridge stock opened at $124.94 on Wednesday. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of -52.28 and a beta of 0.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.83 and a quick ratio of 2.83. Everbridge has a 1 year low of $96.64 and a 1 year high of $178.98. The firm has a 50-day moving average of $138.03 and a two-hundred day moving average of $133.94.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Wednesday, February 17th. The technology company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Everbridge had a negative net margin of 32.43% and a negative return on equity of 18.82%. The business had revenue of $75.61 million during the quarter, compared to analyst estimates of $72.48 million. Research analysts expect that Everbridge will post -1.43 earnings per share for the current year.

In other Everbridge news, CFO Patrick Brickley sold 14,032 shares of the company’s stock in a transaction that occurred on Monday, February 1st. The shares were sold at an average price of $132.60, for a total transaction of $1,860,643.20. Following the transaction, the chief financial officer now owns 20,626 shares in the company, valued at approximately $2,735,007.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elliot J. Mark sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 20th. The shares were sold at an average price of $140.48, for a total transaction of $140,480.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,026 shares of company stock valued at $3,701,145. 0.75% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. Select Equity Group L.P. increased its stake in Everbridge by 12.1% during the 4th quarter. Select Equity Group L.P. now owns 4,129,350 shares of the technology company’s stock valued at $615,562,000 after purchasing an additional 444,788 shares in the last quarter. Sylebra Capital Ltd increased its stake in Everbridge by 11.8% during the 4th quarter. Sylebra Capital Ltd now owns 1,766,872 shares of the technology company’s stock valued at $263,388,000 after purchasing an additional 185,953 shares in the last quarter. Polar Capital LLP increased its stake in Everbridge by 13.1% during the 3rd quarter. Polar Capital LLP now owns 1,072,121 shares of the technology company’s stock valued at $134,798,000 after purchasing an additional 124,522 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Everbridge during the 4th quarter valued at approximately $97,873,000. Finally, Federated Hermes Inc. increased its stake in Everbridge by 2.3% during the 4th quarter. Federated Hermes Inc. now owns 655,706 shares of the technology company’s stock valued at $97,746,000 after purchasing an additional 14,964 shares in the last quarter.

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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Analyst Recommendations for Everbridge (NASDAQ:EVBG)

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