Needham upgrades Everbridge to Buy, sees double-digit growth as early 2024

As previously reported, Needham analyst Scott Berg upgraded Everbridge to Buy from Hold with a $35 price target. The firm sees the company’s normalized growth rate coming in higher than expectations, with a return to double-digit growth as early as 2024 and strong profitability improvements pushing the stock price higher. The current risk/reward is set up as “attractive” with growth/profitability expectations seen as “too conservative”, the analyst tells investors in a research note.