As previously reported, Wells Fargo analyst Michael Berg downgraded Everbridge to Underweight from Equal Weight with a $19 price target. With execution challenges leading to a quick decline of growth in recent years, large deals continue to be hampered, significant margin expansion realized in 2023, and no clear catalysts for revenue acceleration ahead, the firm believes Everbridge is in a challenging position for the foreseeable future.
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Read More on EVBG:
- Everbridge price target lowered to $20 from $23 at Truist
- Everbridge price target lowered to $32 from $38 at Canaccord
- Everbridge price target lowered to $21 from $25 at Baird
- Everbridge price target lowered to $20 from $25 at Barclays
- Everbridge backs FY23 adjusted EPS view $1.48-$1.52, consensus $1.49
