Everbridge (NASDAQ:EVBG) Shares Gap Up to $29.79

Everbridge, Inc. (NASDAQ:EVBGGet Rating)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $29.79, but opened at $30.88. Everbridge shares last traded at $30.08, with a volume of 151 shares traded.

Several analysts have recently commented on EVBG shares. Bank of America decreased their target price on Everbridge from $75.00 to $30.00 and set an “underperform” rating for the company in a research report on Friday, February 25th. Canaccord Genuity Group cut their price objective on Everbridge from $178.00 to $59.00 in a report on Friday, February 25th. Raymond James cut their price objective on Everbridge from $80.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Truist Financial lowered Everbridge from a “buy” rating to a “hold” rating and cut their price objective for the stock from $85.00 to $42.00 in a report on Friday, February 25th. Finally, StockNews.com assumed coverage on Everbridge in a report on Thursday, March 31st. They set a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Everbridge currently has an average rating of “Hold” and a consensus price target of $74.57.

The company has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $49.05. The company has a debt-to-equity ratio of 2.63, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $1.24 billion, a P/E ratio of -12.46 and a beta of 0.84.

Everbridge (NASDAQ:EVBGGet Rating) last posted its earnings results on Monday, May 9th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.16. Everbridge had a negative return on equity of 9.28% and a negative net margin of 23.82%. The company had revenue of $100.38 million for the quarter, compared to analyst estimates of $98.82 million. During the same period last year, the company earned ($0.13) earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. Equities analysts anticipate that Everbridge, Inc. will post -1.55 earnings per share for the current year.

In other news, insider Ajay Nigam sold 3,316 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $39.29, for a total value of $130,285.64. Following the sale, the insider now directly owns 15,140 shares of the company’s stock, valued at $594,850.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vernon Irvin sold 794 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $43.11, for a total value of $34,229.34. Following the completion of the sale, the chief executive officer now directly owns 2,378 shares in the company, valued at $102,515.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,839 shares of company stock worth $195,628. 0.44% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in EVBG. Dimensional Fund Advisors LP grew its position in Everbridge by 34.1% during the third quarter. Dimensional Fund Advisors LP now owns 43,518 shares of the technology company’s stock worth $6,574,000 after buying an additional 11,067 shares in the last quarter. Royal Bank of Canada grew its position in Everbridge by 7.1% during the third quarter. Royal Bank of Canada now owns 21,652 shares of the technology company’s stock worth $3,270,000 after buying an additional 1,444 shares in the last quarter. Millennium Management LLC acquired a new stake in Everbridge during the third quarter worth about $3,892,000. LPL Financial LLC grew its position in Everbridge by 17.0% during the third quarter. LPL Financial LLC now owns 8,418 shares of the technology company’s stock worth $1,271,000 after buying an additional 1,224 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in Everbridge during the third quarter worth about $270,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About Everbridge (NASDAQ:EVBG)

Everbridge, Inc engages in the development of software solutions for critical event management and enterprise safety applications that automate and accelerate an organization’s operational response to critical events. Its SaaS-based CEM platform enables customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.

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