In a report released yesterday, Brent Bracelin from KeyBanc reiterated a Hold rating on Everbridge Inc (EVBG). The company’s shares closed yesterday at $56.61.
Bracelin said:
“We are downgrading EVBG to a Sector Weight rating solely on valuation as shares approach our $58 PT and the risk/reward appears more balanced after EVBG rose 91% in 2018 and 358% since the 2016 IPO vs. the 24%, respectively. We remain bullish on its growth prospects and opportunity to define a new software category but see NT investor optimism appropriately factored in at 8.6x NTM EV/S. Further multiple expansion could be tempered given leadership succession plans for the CEO (mid- to late 2019) and CFO (mid-2019) this year.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 20.4% and a 71.0% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Ellie Mae Inc.
Currently, the analyst consensus on Everbridge Inc is a Strong Buy with an average price target of $60.67.
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Based on Everbridge Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $8.45 million. In comparison, last year the company had a GAAP net loss of $5.76 million.
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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.
