Everbridge ( EVBG Quick Quote EVBG - Free Report) is riding on an expanding clientele as it continues to remain a trustworthy partner for government organizations. It recently announced that the City of New York will deploy Everbridge's critical event management platform for the 97th Annual Macy's Thanksgiving Day Parade. Everbridge will play a pivotal role in ensuring the safety and well-being of the parade's attendees in the event of emergencies, disruptions, or the need to convey crucial information during the festivities. Empowering the statewide emergency notification system NY-ALERT and New York City's Notify NYC, Everbridge's critical event management (CEM) platform enables residents and visitors to register for alerts by texting designated keywords. This feature ensures that individuals receive essential updates in various languages, enhancing communication during emergencies and large-scale events.
With more than three million people expected to attend the parade and millions more watching from home, Everbridge's mass notification solutions will deliver real-time information on safety, traffic, weather and event-related details, exemplifying its commitment to enhancing public safety during large-scale events.
Expanding Clientele to Drive Everbridge’s Top Line
Everbridge is riding on an expanding clientele, which underscores its pivotal role in shaping global emergency response systems and enhancing public safety initiatives.
Government organizations are trusting its innovative portfolio of solutions. In October, the City of Glendale, AZ, selected its Mass Notification platform to enhance public safety, featuring targeted messaging and geo-fencing via Everbridge Resident Connection. Everbridge, in partnership with Vodafone, supports the German government's nationwide public warning system on Nationwide Warning Day. Everbridge’s partnership with COP28 World Climate Summit demonstrated its leadership in merging public safety technology and index-based insurance for climate resilience, aligning with sustainable development goals and collaborating with global entities for effective emergency alerting capabilities. The company’s strategy of developing innovative solutions has been a key catalyst. Everbridge recently secured a pivotal patent in AI, which integrates pattern-recognition algorithms into CEM software for analyzing risk data and visualizing critical event management trends through a graphical interface. The company’s commitment to innovation is further exemplified by the introduction of Everbridge 360, enabling customers to automate and streamline the management of critical events through a powerful, unified dashboard. Expanding clientele and a strong partner base are expected to aid prospects. For 2023, Everbridge anticipates total revenues between $447 million and $448.5 million, indicating year-over-year growth of 4%. The Zacks Consensus Estimate for revenues is pegged at $447.72 million, indicating a 3.66% rise year over year. The Zacks Consensus Estimate for earnings is pegged at $1.51 per share, up by a couple of cents in the past 30 days, indicating 125.37% year-over-year growth. Zacks Rank & Stocks to Consider
Currently, Everbridge sports a Zacks Rank #1 (Strong Buy). You can see
. the complete list of today’s Zacks #1 Rank stocks here EVBG’s shares have declined 31.6% year to date compared with the Zacks Computer & Technology sector’s rally of 45.5%. NVIDIA ( NVDA Quick Quote NVDA - Free Report) , NetEase ( NTES Quick Quote NTES - Free Report) and Intel ( INTC Quick Quote INTC - Free Report) are some same-ranked stocks that investors can consider in the broader sector. NVDA, NTES and INTC shares have returned 238.4%, 60.4% and 64.9%, respectively, on a year-to-date basis. Long-term earnings growth rates for NVIDIA, NetEase and Intel are pegged at 13.5%,15.98% and 14.18%, respectively.