Everbridge's Accelerating Sales Productivity And Impressive Future Growth: Analyst Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Scott Berg upgraded Everbridge, Inc. (NASDAQ:EVBG) to Buy from Hold, with a price target of $35. The analyst notes that Everbridge's sales productivity is rapidly improving, setting up a more predictable future growth outlook benefiting from CEM multi-product sales. The company's upcoming free cash flow (FCF) generation is impressive, with margins quickly jumping above 15%. The company looks to generate ~$60 million of FCF in FY23, up rapidly from $1.6 million in FY22. For FY23, Berg sees total revenues to jump 6.3% Y/Y to $459.12 million.
July 11, 2023 | 6:10 pm
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Everbridge, Inc. (NASDAQ:EVBG) has been upgraded to Buy from Hold by Needham analyst Scott Berg, who cites rapidly improving sales productivity and impressive FCF generation. The company's stock price is expected to benefit from these positive developments.
The upgrade by Needham analyst Scott Berg is based on Everbridge's rapidly improving sales productivity and impressive FCF generation. These factors are expected to drive the company's stock price higher in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100