Everbridge (NASDAQ:EVBG) Issues FY 2022 Earnings Guidance

Everbridge (NASDAQ:EVBGGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $0.23-$0.27 for the period, compared to the consensus EPS estimate of $0.24. The company issued revenue guidance of $428.20 million-$432.80 million, compared to the consensus revenue estimate of $428.50 million.Everbridge also updated its Q2 2022 guidance to -$0.13–$0.11 EPS.

A number of brokerages have issued reports on EVBG. Bank of America reduced their target price on Everbridge from $75.00 to $30.00 and set an underperform rating on the stock in a report on Friday, February 25th. Zacks Investment Research cut Everbridge from a buy rating to a hold rating in a report on Wednesday, May 18th. StockNews.com initiated coverage on Everbridge in a report on Thursday, March 31st. They set a sell rating on the stock. Canaccord Genuity Group cut their price objective on Everbridge from $178.00 to $59.00 and set a buy rating on the stock in a report on Friday, February 25th. Finally, Stephens cut their price objective on Everbridge from $200.00 to $58.00 and set an overweight rating on the stock in a report on Friday, February 25th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $73.47.

NASDAQ:EVBG opened at $39.95 on Monday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -16.72 and a beta of 0.84. Everbridge has a twelve month low of $27.81 and a twelve month high of $167.40. The stock’s 50 day moving average price is $43.94 and its two-hundred day moving average price is $55.81. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 2.63.

Everbridge (NASDAQ:EVBGGet Rating) last posted its quarterly earnings results on Monday, May 9th. The technology company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.16. The firm had revenue of $100.38 million for the quarter, compared to analyst estimates of $98.82 million. Everbridge had a negative return on equity of 9.28% and a negative net margin of 23.82%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.13) EPS. As a group, analysts anticipate that Everbridge will post -1.56 earnings per share for the current year.

In related news, CEO Vernon Irvin sold 794 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $43.11, for a total transaction of $34,229.34. Following the transaction, the chief executive officer now directly owns 2,378 shares of the company’s stock, valued at approximately $102,515.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ajay Nigam sold 3,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $39.29, for a total value of $130,285.64. Following the transaction, the insider now directly owns 15,140 shares in the company, valued at $594,850.60. The disclosure for this sale can be found here. Insiders have sold a total of 4,839 shares of company stock worth $195,628 in the last ninety days. Insiders own 0.44% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new stake in Everbridge in the 1st quarter valued at $90,000. MetLife Investment Management LLC bought a new stake in Everbridge in the 1st quarter valued at $111,000. US Bancorp DE boosted its stake in Everbridge by 53.1% in the 1st quarter. US Bancorp DE now owns 4,527 shares of the technology company’s stock valued at $197,000 after purchasing an additional 1,570 shares during the period. PNC Financial Services Group Inc. boosted its stake in Everbridge by 42.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,702 shares of the technology company’s stock valued at $205,000 after purchasing an additional 1,399 shares during the period. Finally, Synovus Financial Corp bought a new stake in Everbridge in the 4th quarter valued at $322,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

About Everbridge (Get Rating)

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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