Everbridge EVBG is a $1.3 billion provider of software communications and enterprise safety applications. After a strong beat and raise quarter reported in late February, analysts have significantly raised EPS estimates, looking for 124% growth this year and still +23% in 2024.
Stephens analyst Brian Colley raised his price target on Everbridge to $41 from $38 and kept an Overweight rating on the shares after the company reported Q4 results that exceeded expectations and posted what the firm calls out as "the strongest quarterly gross retention rate in greater than 2 years."
"Everbridge is showing encouraging progress on its strategic initiatives and profitability is inflecting meaningfully higher," wrote Colley.
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