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

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

Everbridge Stock Performance

NASDAQ:EVBG opened at $34.99 on Monday. Everbridge has a twelve month low of $18.50 and a twelve month high of $36.31. The stock’s 50 day moving average price is $34.77 and its two-hundred day moving average price is $30.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.03.

Everbridge (NASDAQ:EVBG) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.21). The company had revenue of $111.43 million for the quarter, compared to analyst estimates of $111.90 million. Everbridge had a positive return on equity of 5.26% and a negative net margin of 11.67%. Analysts predict that Everbridge will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Swiss National Bank increased its holdings in shares of Everbridge by 0.9% during the 1st quarter. Swiss National Bank now owns 81,100 shares of the technology company’s stock worth $2,825,000 after acquiring an additional 700 shares during the last quarter. Kennedy Capital Management LLC increased its holdings in shares of Everbridge by 2.3% during the 1st quarter. Kennedy Capital Management LLC now owns 46,961 shares of the technology company’s stock worth $1,636,000 after acquiring an additional 1,070 shares during the last quarter. Y.D. More Investments Ltd increased its holdings in shares of Everbridge by 20.1% during the 4th quarter. Y.D. More Investments Ltd now owns 6,858 shares of the technology company’s stock worth $155,000 after acquiring an additional 1,149 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Everbridge by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,173 shares of the technology company’s stock worth $773,000 after acquiring an additional 1,370 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Everbridge by 23.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,376 shares of the technology company’s stock worth $498,000 after acquiring an additional 2,760 shares during the last quarter. 89.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVBG has been the topic of several research reports. 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 note on Monday, March 4th. StockNews.com initiated coverage on Everbridge in a research note on Sunday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Everbridge in a research note 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 note on Monday, March 4th. Finally, 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 note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.75.

Everbridge Company Profile

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.