Everbridge Inc (NASDAQ:EVBG) Expected to Post Earnings of -$0.05 Per Share

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Equities research analysts expect Everbridge Inc (NASDAQ:EVBG) to announce earnings of ($0.05) per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Everbridge’s earnings, with estimates ranging from ($0.06) to ($0.04). Everbridge posted earnings per share of ($0.10) in the same quarter last year, which suggests a positive year over year growth rate of 50%. The company is scheduled to announce its next quarterly earnings report on Monday, November 4th.

On average, analysts expect that Everbridge will report full year earnings of ($0.25) per share for the current year, with EPS estimates ranging from ($0.28) to ($0.23). For the next year, analysts anticipate that the company will post earnings of ($0.09) per share, with EPS estimates ranging from ($0.24) to $0.24. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Everbridge.

Everbridge (NASDAQ:EVBG) last issued its quarterly earnings results on Monday, August 5th. The technology company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. The business had revenue of $48.40 million during the quarter, compared to analyst estimates of $47.99 million. Everbridge had a negative net margin of 25.85% and a negative return on equity of 41.46%. Everbridge’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) earnings per share.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Everbridge from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. Credit Suisse Group upped their price target on shares of Everbridge from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, June 20th. Bank of America upped their price target on shares of Everbridge from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. JPMorgan Chase & Co. upped their price target on shares of Everbridge from $75.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, August 6th. Finally, KeyCorp restated a “hold” rating on shares of Everbridge in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $100.00.

In other news, CEO Jaime Wallace Ellertson sold 277,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $81.45, for a total value of $22,561,650.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Elliot J. Mark sold 3,559 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $85.02, for a total transaction of $302,586.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 429,594 shares of company stock valued at $36,509,978. Corporate insiders own 2.20% of the company’s stock.

Several large investors have recently bought and sold shares of EVBG. Vanguard Group Inc. boosted its stake in shares of Everbridge by 52.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,144,174 shares of the technology company’s stock valued at $281,152,000 after purchasing an additional 1,077,481 shares during the last quarter. BlackRock Inc. boosted its position in shares of Everbridge by 29.5% in the second quarter. BlackRock Inc. now owns 2,596,838 shares of the technology company’s stock valued at $232,209,000 after acquiring an additional 591,681 shares during the period. Victory Capital Management Inc. bought a new position in shares of Everbridge in the first quarter valued at approximately $27,484,000. Eagle Asset Management Inc. boosted its position in shares of Everbridge by 246.0% in the second quarter. Eagle Asset Management Inc. now owns 454,266 shares of the technology company’s stock valued at $40,620,000 after acquiring an additional 322,968 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Everbridge by 398.0% in the second quarter. First Trust Advisors LP now owns 314,196 shares of the technology company’s stock valued at $28,095,000 after acquiring an additional 251,105 shares during the period. 98.81% of the stock is currently owned by institutional investors.

Shares of Everbridge stock traded down $2.38 during midday trading on Friday, reaching $80.03. The company had a trading volume of 8,372 shares, compared to its average volume of 535,027. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2.65 billion, a P/E ratio of -56.03 and a beta of 0.83. The company’s fifty day moving average is $94.33. Everbridge has a 1-year low of $41.94 and a 1-year high of $104.22.

About Everbridge

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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