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Here's Why Everbridge Shares Are Trading Higher Today

Published 04/04/2022, 19:24
Updated 04/04/2022, 20:11
© Reuters. Here's Why Everbridge Shares Are Trading Higher Today
EVBG
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  • Everbridge Inc (NASDAQ: EVBG) shareholder Ancora Holdings Group, LLC urged the board to explore strategic alternatives.
  • Ancora acknowledged that multiple financial sponsors are interested in pursuing an acquisition of Everbridge.
  • Ancora saw Everbridge dramatically undervalued at current share price levels, and a sale to a well-capitalized acquirer could deliver more than $70 per share based on recent valuation multiples for both public and private company peers and recent software transactions.
  • Everbridge shares closed at $44.60 on April 1.
  • Everbridge's Q4 revenue of $102.8 million, up 36%, beat the consensus of $102.1 million. Non-GAAP EPS loss of $(0.05) beat the consensus loss of $(0.18).
  • Price Action: EVBG shares traded higher by 8.18% at $48.25 on the last check Monday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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