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Benzinga
Benzinga
Business
Anusuya Lahiri

Here's Why Everbridge Shares Are Trading Higher Today

Everbridge Ancora
  • 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.
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