Stephens analyst Ryan MacWilliams assigned a Buy rating to Everbridge Inc (EVBG) today and set a price target of $98. The company’s shares closed last Monday at $69.92.
MacWilliams wrote:
“We view establishing channel/international relationships as a key priority ahead of the CEM suite’s expansion outside of the N.A. corporate/healthcare market, and capturing back-end deployments with telecom carriers is the ticket to maximizing the population alerting opportunity (could represent ~2-3x front-end PAS deal). However, we are cautious on breakout bookings in federal, as EVBG is still building out its full capabilities. We reiterate our Overweight/Vol. rating ($98 PT) and remain buyers ahead of upcoming catalysts.”
According to TipRanks.com, MacWilliams is a 1-star analyst with an average return of -13.4% and a 0.0% success rate. MacWilliams covers the Technology sector, focusing on stocks such as Zoom Video Communications Inc Class A, Slack Technologies Inc, and Smartsheet Inc.
Everbridge Inc has an analyst consensus of Strong Buy, with a price target consensus of $103, which is a 37.3% upside from current levels. In a report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $100 price target.
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Based on Everbridge Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.06 million. In comparison, last year the company had a GAAP net loss of $16.92 million.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EVBG in relation to earlier this year.
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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.
