Credit Suisse Starts Everbridge (EVBG) at Outperform
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Credit Suisse initiates coverage on recent IPO Everbridge (NASDAQ: EVBG) with a Outperform rating and a price target of $21.00.
Analyst Michael Nemeroff commented, "EVBG has pioneered a comprehensive enterprise communication software platform with best-of-breed mass notification/non-mass notification applications that enable enterprises, the public sector, and other governmental entities to save lives and protect business processes during public safety and critical business events. The strength of EVBG's model stems from its technology leadership, expansive portfolio of applications, attractive customer acquisition economics, and high revenue retention rates, which we believe should enable the company to generate >+25% revenue and billings growth with increased margin leverage/profitability over the next three years, at least."
Shares of Everbridge closed at $15.76 yesterday.
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