Stephens Assigns a Buy Rating on Everbridge Inc (EVBG)


Stephens analyst Dmitry Netis assigned a Buy rating to Everbridge Inc (EVBG) today and set a price target of $98. The company’s shares closed yesterday at $89.48, close to its 52-week high of $90.

Netis said:

“We raise our PT from $80 to $98, and reiterate our Overweight/Vol. rating. KEY POINTS: Australia win only the beginning in APAC. Ahead of its analyst day on 06/19, Everbridge announced an agreement to provide nationwide population alerting services to Australia, in a deal we estimate could be $6-7 mil. in ARR (given similar economics per citizen to its existing population alerting deal with Sweden). Using Australia as a cornerstone client, Everbridge can push further into APAC population alerting, an area that mgmt. has previously noted a strong pipeline of interest. Other APAC population alerting customers include Singapore and multiple Indian states, including the State of Odisha, where Everbridge’s solution helped safely evacuate citizens ahead of a devastating cyclone through over 20 million text messages (link).”

Netis has an average return of 76.7% when recommending Everbridge Inc.

According to TipRanks.com, Netis is ranked #208 out of 5201 analysts.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Everbridge Inc with a $83.75 average price target.

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Based on Everbridge Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.13 million. In comparison, last year the company had a GAAP net loss of $12.34 million.

Based on the recent corporate insider activity of 74 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.

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