Everbridge, Inc. (NASDAQ:EVBG – Get Rating) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,370,000 shares, a drop of 17.0% from the October 31st total of 1,650,000 shares. Based on an average trading volume of 661,100 shares, the days-to-cover ratio is presently 2.1 days.
Insider Activity at Everbridge
In other Everbridge news, EVP Vernon Irvin sold 4,443 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $27.85, for a total value of $123,737.55. Following the transaction, the executive vice president now owns 22,501 shares in the company, valued at approximately $626,652.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 8,685 shares of company stock valued at $256,865. 0.44% of the stock is owned by company insiders.
Hedge Funds Weigh In On Everbridge
Institutional investors have recently bought and sold shares of the company. Prospera Financial Services Inc acquired a new position in Everbridge in the 1st quarter valued at about $27,000. Amalgamated Bank grew its position in Everbridge by 11.7% in the 1st quarter. Amalgamated Bank now owns 9,047 shares of the technology company’s stock valued at $395,000 after acquiring an additional 946 shares in the last quarter. B. Riley Asset Management LLC grew its position in Everbridge by 95.5% in the 1st quarter. B. Riley Asset Management LLC now owns 76,988 shares of the technology company’s stock valued at $3,360,000 after acquiring an additional 37,600 shares in the last quarter. Dragoneer Investment Group LLC acquired a new position in Everbridge in the 1st quarter valued at about $18,612,000. Finally, Envestnet Asset Management Inc. grew its position in Everbridge by 6.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 39,372 shares of the technology company’s stock valued at $1,718,000 after acquiring an additional 2,327 shares in the last quarter. 96.47% of the stock is owned by institutional investors and hedge funds.
Everbridge Trading Down 1.6 %
EVBG traded down $0.54 on Friday, hitting $32.86. The company had a trading volume of 214,078 shares, compared to its average volume of 618,984. The firm has a market cap of $1.31 billion, a P/E ratio of -14.80 and a beta of 0.77. Everbridge has a 1 year low of $24.10 and a 1 year high of $122.78. The company’s fifty day moving average price is $30.83 and its 200 day moving average price is $32.89. The company has a current ratio of 2.20, a quick ratio of 2.20 and a debt-to-equity ratio of 3.31.
Everbridge (NASDAQ:EVBG – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.12. The firm had revenue of $111.40 million for the quarter, compared to analyst estimates of $110.69 million. Everbridge had a negative net margin of 21.04% and a negative return on equity of 8.37%. As a group, equities analysts expect that Everbridge will post -0.69 earnings per share for the current year.
Analysts Set New Price Targets
EVBG has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Everbridge from $32.00 to $38.00 and gave the company a “hold” rating in a report on Friday, August 26th. StockNews.com upgraded Everbridge from a “sell” rating to a “hold” rating in a report on Wednesday, November 16th. Raymond James decreased their price objective on Everbridge from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Truist Financial lifted their price target on Everbridge from $31.00 to $38.00 and gave the stock a “hold” rating in a report on Tuesday, August 30th. Finally, Canaccord Genuity Group reduced their price target on Everbridge from $55.00 to $40.00 in a report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.92.
About Everbridge
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.