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Why Everbridge Stock Jumped Tuesday

By Daniel Sparks - Nov 5, 2019 at 12:16PM

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Following a solid third quarter, management lifted its full-year outlook.

What happened

Shares of enterprise software company Everbridge (EVBG -1.07%) jumped on Tuesday, rising nearly 15% by 11:40 a.m. EST.

The stock's gain followed Everbridge's third-quarter results. Better-than-expected top- and bottom-line results were likely the reason for investors' optimism for the stock on Tuesday.

A chart showing a stock price moving higher

Image source: Getty Images.

So what

Everbridge reported third-quarter revenue of $52.5 million, up 35% year over year. The company's non-GAAP (adjusted) loss per share for the period was $0.04 -- narrower than a non-GAAP loss per share of $0.10 in the year-ago period.

Analysts, on average, were expecting revenue of $51.4 million and a non-GAAP loss per share of $0.05. 

Now what

In light of these strong results, management lifted its outlook for full-year revenue and non-GAAP earnings per share. Everbridge now expects 2019 revenue to be between $199.9 million and $200.2 million. This is up from a previous forecast for revenue between $198.4 million and $199 million. In addition, Everbridge guided for its non-GAAP loss per share to be between $0.22 and $0.21, an improvement from a previous outlook for a loss per share between $0.25 and $0.22.

Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of Everbridge. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Everbridge, Inc. Stock Quote
Everbridge, Inc.
EVBG
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