Everbridge Leads in Risk Management Space
With the rising threats in our physical and digital worlds, safety has become a critical area of focus. Whether it is medical emergencies, social media attacks, severe weather conditions, or workplace violence, solutions have to be found to deal with critical events in real time.
Organizations face many risks in today’s unpredictable world, and they need ways to manage these risks efficiently. The demand for such solutions is unlikely to slow down anytime soon.
A leading player riding this trend is Everbridge Inc (NASDAQ:EVBG). The company’s “Critical Event Management” (CEM) platform provides organizations with a complete understanding of threat data and quickly notifies the relevant people. That aids in initiating responses and managing resolutions. (Source: “Critical Event Management,” Everbridge Inc, last accessed November 30, 2018.)
The company has been growing strongly, and this has had a positive impact on the EVBG stock price.
It is of utmost importance to keep employees safe, prevent disruptions to operations, alert the people who are concerned, and automate IT incident responses. Everbridge has been helping organizations achieve these goals, and the popularity of its products bodes well for Everbridge stock.
Everbridge’s CEM software plays a critical role in various situations like active shooter events, severe weather conditions, terrorist attacks, and cyber-attacks. The software speeds up the operational response to such threats in order to ensure the safety of people and the continuity of business operations.
Everbridge’s software applications help deliver messages almost in real time to more than 100 different communication devices. The company has helped manage critical events for more than 4,200 customers globally. Its alert system has reached more than 500 million people in over 200 countries.
There is a substantial market for Everbridge’s products and services. As per the company’s estimates, the market for CEM solutions is likely to grow to $41.1 billion by the end of 2020. (Source: “Form 10-K,” Everbridge Inc, March 12, 2018.)
Just recently, the company was named a “Deloitte 2018 Technology Fast 500” company for the second consecutive year. As more and more organizations adopt Everbridge’s CEM solutions, EVBG stock will likely keep rising. (Source: “2018 Technology Fast 500 Ranking,” Deloitte, November 16, 2018.)
Everbridge also recently announced strong third-quarter financial results.
The company exceeded its guidance for both revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA). Third-quarter revenue came in at $38.9 million, which was an increase of 43% year-over-year. (Source: “Everbridge Announces Third Quarter 2018 Financial Results,” Everbridge Inc, November 5, 2018.)
The company’s third-quarter results marked the company’s ninth consecutive quarter of better-than-expected results since the company made its public debut in 2016.
Also in the quarter, the company added 109 net new enterprise customers. The total has now reached 4,267, an increase of 29% from the same period a year ago.
EVBG stock is up by more than 100% in the past year. Since I wrote about Everbridge stock in March 2018, its value has gone up by about 44%.
Chart courtesy of StockCharts.com
Everbridge Inc is a global leader in providing risk management software. Its Critical Event Management platform provides tools for organizations to collect risk data and locate people and assets under threat. Following the collection of the data, action is initiated and incidents are managed.
By proving that it can rapidly pinpoint threats and automate responses to avoid impacts that could prove very costly, the company’s platform will likely continue to gain more traction. This means more upside for EVBG stock.
All things considered, investors might want to consider Everbridge stock on any sign of price weakness.