KeyBanc analyst Brent Bracelin maintained a Buy rating on Everbridge Inc (NASDAQ: EVBG) yesterday and set a price target of $58. The company’s shares closed yesterday at $52.32, close to its 52-week high of $53.42.
Bracelin wrote:
“We attended an analyst day at Everbridge headquarters in Burlington, Mass., this week where management outlined three main levers to sustain mid-30% growth: 1) increasing product attach-rates, 2) expanding internationally, and 3) increasing adoption of its Critical Event Management (CEM) platform. We are raising estimates slightly to reflect an upward bias on the Company’s growth opportunity and consistent execution, and raising our target before several near- term catalysts, including pending FedRAMP certification and the acquisition of UMS.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 22.7% and a 77.6% 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 Strong Buy and the average price target is $48.14, representing a -8.0% downside.
In a report issued on June 6, Canaccord Genuity also maintained a Buy rating on the stock with a $52 price target.
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The company has a one-year high of $53.42 and a one-year low of $21.56. Currently, Everbridge Inc has an average volume of 311.9K.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.
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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.
