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Apart from a favorable rank, EVBG has a Growth Score of A. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 or #2 and a VGM Score of A or B offer solid investment opportunities.
The Zacks Consensus Estimate for 2023 and 2024 earnings per share (EPS) is pegged at $1.50 and $1.85, indicating an increase of 123.9% and 23.1% year over year, respectively. The consensus estimate for 2023 and 2024 revenues is pegged at $457.4 million and $490 million, implying year-over-year growth of 5.9% and 7.1%, respectively.
EVBG has an impressive surprise record. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 74.6%.
The stock is currently trading at 37.5% below its 52-week high price of $52.09 on Apr 13, 2022, making it relatively affordable for investors. EVBG’s shares have gained 26.1% in the past year against the Zacks sub-industry’s 30.6% decline.
Image Source: Zacks Investment Research
A Look at Growth Drivers
Everbridge is a software company, providing communications and enterprise safety applications. The company's applications include Mass Notification, Incident Management, IT Alerting, Safety Connection(TM), Community Engagement(TM), Secure Messaging and the Internet of Things.
Steady increase in the company’s annual recurring revenues (ARR), owing to strong recurring bookings and robust renewals, is driving its performance. EVBG expects to reach $1 billion in ARR in the long term. Frequent product launches are likely to drive the top line going ahead. In the fourth quarter of 2022, the company rolled out Everbridge PSInsights.
Everbridge PSInsights boasts a new situational awareness functinailty that will enable public safety authorities to gain profound visibility into critical situations (before, after and during crisis). This, in turn, will enable them to streamline response and improve public safety.
Everbridge remains focused on improving its go-to-market velocity, which includes market expansion through resellers and systems integrators. Also, the company is concentrating on simplifying its product offerings to enable enterprise teams to sell a relatively more integrated CEM platform. Its cost cutting measures as well as deleveraging efforts also bode well.
In the last reported quarter, the company’s revenues were up 14% to $117.1 million. Non-GAAP EPS was 39 cents against a loss of 5 cents in the year-ago period. The improvement was driven by cost control measures. Adjusted EBITDA was $19.6 million compared with $0.6 million in the prior-year quarter.
For 2023, the company expects revenues in the $456-$462 million range.
Weakness in global macroeconomic conditions and cutback in clients’ spending are likely to affect the company’s performance in the near term. Unfavorable forex movements and inflation are other headwinds.
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Perion Network (PERI - Free Report) and Cadence Design Systems (CDNS - Free Report) , each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings is pegged at $5.79 per share, increasing 11% in the past 60 days. The estimated long-term earnings growth is 14.2%.
ANET’s earnings beat estimates in each of the last four quarters, the average surprise being 14.2%. Shares of ANET have increased 20.7% in the past year.
The Zacks Consensus Estimate for Perion Network’s 2023 earnings is pegged at $2.69 per share, increasing 16% in the past 60 days. The estimated long-term earnings growth is 25%.
PERI’s earnings beat estimates in each of the last four quarters, the average surprise being 31.7%. Shares of PERI have increased 60% in the past year.
The Zacks Consensus Estimate for Cadence Design Systems’ 2023 earnings is pegged at $4.97 per share, rising 10% in the past 60 days.
CDNS beat estimates in two of the trailing four quarters, the average surprise being 10.5%. Shares of the company have gained 29% in the past year
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Here's Why Investors May Bet on Everbridge (EVBG) Stock
Investors may consider adding Everbridge (EVBG - Free Report) stock to their portfolio to gain from its upside potential amid ongoing volatility. The company currently holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apart from a favorable rank, EVBG has a Growth Score of A. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 or #2 and a VGM Score of A or B offer solid investment opportunities.
The Zacks Consensus Estimate for 2023 and 2024 earnings per share (EPS) is pegged at $1.50 and $1.85, indicating an increase of 123.9% and 23.1% year over year, respectively. The consensus estimate for 2023 and 2024 revenues is pegged at $457.4 million and $490 million, implying year-over-year growth of 5.9% and 7.1%, respectively.
EVBG has an impressive surprise record. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 74.6%.
The stock is currently trading at 37.5% below its 52-week high price of $52.09 on Apr 13, 2022, making it relatively affordable for investors. EVBG’s shares have gained 26.1% in the past year against the Zacks sub-industry’s 30.6% decline.
Image Source: Zacks Investment Research
A Look at Growth Drivers
Everbridge is a software company, providing communications and enterprise safety applications. The company's applications include Mass Notification, Incident Management, IT Alerting, Safety Connection(TM), Community Engagement(TM), Secure Messaging and the Internet of Things.
Steady increase in the company’s annual recurring revenues (ARR), owing to strong recurring bookings and robust renewals, is driving its performance. EVBG expects to reach $1 billion in ARR in the long term. Frequent product launches are likely to drive the top line going ahead. In the fourth quarter of 2022, the company rolled out Everbridge PSInsights.
Everbridge PSInsights boasts a new situational awareness functinailty that will enable public safety authorities to gain profound visibility into critical situations (before, after and during crisis). This, in turn, will enable them to streamline response and improve public safety.
Everbridge remains focused on improving its go-to-market velocity, which includes market expansion through resellers and systems integrators. Also, the company is concentrating on simplifying its product offerings to enable enterprise teams to sell a relatively more integrated CEM platform. Its cost cutting measures as well as deleveraging efforts also bode well.
In the last reported quarter, the company’s revenues were up 14% to $117.1 million. Non-GAAP EPS was 39 cents against a loss of 5 cents in the year-ago period. The improvement was driven by cost control measures. Adjusted EBITDA was $19.6 million compared with $0.6 million in the prior-year quarter.
For 2023, the company expects revenues in the $456-$462 million range.
Weakness in global macroeconomic conditions and cutback in clients’ spending are likely to affect the company’s performance in the near term. Unfavorable forex movements and inflation are other headwinds.
Other Stocks to Consider
Some other top-ranked stocks in the broader technology space are Arista Networks (ANET - Free Report) , Perion Network (PERI - Free Report) and Cadence Design Systems (CDNS - Free Report) , each sporting a Zacks Rank #1 at present.
The Zacks Consensus Estimate for Arista Networks’ 2023 earnings is pegged at $5.79 per share, increasing 11% in the past 60 days. The estimated long-term earnings growth is 14.2%.
ANET’s earnings beat estimates in each of the last four quarters, the average surprise being 14.2%. Shares of ANET have increased 20.7% in the past year.
The Zacks Consensus Estimate for Perion Network’s 2023 earnings is pegged at $2.69 per share, increasing 16% in the past 60 days. The estimated long-term earnings growth is 25%.
PERI’s earnings beat estimates in each of the last four quarters, the average surprise being 31.7%. Shares of PERI have increased 60% in the past year.
The Zacks Consensus Estimate for Cadence Design Systems’ 2023 earnings is pegged at $4.97 per share, rising 10% in the past 60 days.
CDNS beat estimates in two of the trailing four quarters, the average surprise being 10.5%. Shares of the company have gained 29% in the past year