In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Everbridge Inc (NASDAQ: EVBG), with a price target of $45. The company’s shares closed yesterday at $39.65, close to its 52-week high of $40.81.
Bracelin said:
“We are raising our price target to $45 from $39 on higher estimates. Key Investment Points Results: New products driving larger standalone deals. ● Revenue came in at $30.5M, growing 34% y/y; $0.9M above consensus. ● Adjusted EBITDA was ($1.8M), beating consensus of ($0.7M). ● Reported under ASC 606, which had an immaterial impact to revenue or profitability. ● Net loss of ($0.17) was better than our estimate and consensus of ($0.20). ● Total global customers expanded to 3,811 (not including UMS); 100 net adds. ● 70 multi-product deals in the 1Q vs. 54 in 1Q17.”
According to TipRanks.com, Bracelin is a top 100 analyst with an average return of 20.1% and a 76.4% success rate. Bracelin covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and Microsoft Corp.
Currently, the analyst consensus on Everbridge Inc is Strong Buy and the average price target is $39.75, representing a 0.3% upside.
In a report issued on April 24, Northland Securities also reiterated a Buy rating on the stock with a $43 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $40.81 and a one-year low of $21.56. Currently, Everbridge Inc has an average volume of 292.6K.
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
