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Fly News Breaks for January 8, 2019
EVBG
Jan 8, 2019 | 07:23 EDT
As previously reported, KeyBanc analyst Brent Bracelin downgraded Everbridge to Sector Weight from Overweight solely on valuation as shares approach his previous $58 price target. The analyst sees the risk/reward more balanced after the stock rose 91% in 2018 and 358% since the 2016. Bracelin remains bullish on its growth prospects and opportunity to define a new software category but see near-term investor optimism appropriately factored in at 8.6 times NTM EV/S. Further multiple expansion could be tempered given leadership succession plans for the CEO and CFO this year, he adds.
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