Everbridge, Inc. (NASDAQ:EVBG) Sees Large Growth in Short Interest

Everbridge, Inc. (NASDAQ:EVBG) saw a significant increase in short interest in June. As of June 15th, there was short interest totalling 1,500,000 shares, an increase of 14.5% from the May 31st total of 1,310,000 shares. Based on an average trading volume of 620,900 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On Everbridge

A number of large investors have recently bought and sold shares of the business. Kennedy Capital Management LLC raised its stake in Everbridge by 2.3% in the first quarter. Kennedy Capital Management LLC now owns 46,961 shares of the technology company’s stock worth $1,636,000 after buying an additional 1,070 shares in the last quarter. Bayesian Capital Management LP bought a new position in Everbridge in the first quarter worth approximately $639,000. Beryl Capital Management LLC bought a new position in Everbridge in the first quarter worth approximately $3,762,000. Blackstone Inc. bought a new position in Everbridge in the first quarter worth approximately $690,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Everbridge by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,173 shares of the technology company’s stock worth $773,000 after buying an additional 1,370 shares in the last quarter. Institutional investors own 89.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on EVBG. StockNews.com began coverage on Everbridge in a research report on Sunday. They issued a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Everbridge in a research report on Monday, May 13th. Truist Financial boosted their target price on Everbridge from $20.00 to $35.00 and gave the company a “hold” rating in a research report on Monday, March 4th. Robert W. Baird boosted their target price on Everbridge from $29.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, Canaccord Genuity Group boosted their target price on Everbridge from $28.60 to $35.00 and gave the company a “hold” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $29.75.

Everbridge Stock Performance

Shares of NASDAQ EVBG opened at $34.99 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average price of $34.77 and a 200 day moving average price of $30.83. Everbridge has a 52-week low of $18.50 and a 52-week high of $36.31.

Everbridge (NASDAQ:EVBG) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.21). The firm had revenue of $111.43 million during the quarter, compared to analysts’ expectations of $111.90 million. Everbridge had a negative net margin of 11.67% and a positive return on equity of 5.26%. As a group, equities analysts forecast that Everbridge will post 0.78 EPS for the current fiscal year.

About Everbridge

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. Its SaaS-based CEM platform enables customers to aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes, and track progress on executing response plans.