Investors should buy shares of recent IPO Everbridge (NASDAQ:EVBG) ahead of the stock's IPO Quiet Period Expiration on October 10. On October 11th, Everbridge's underwriters will have their first shot at releasing detailed reports about the company. Because Everbridge's underwriters are so influential - and because the IPO performance has been strong - we feel confident that the reports will be positive and that they will move the stock higher.
EVBG has done well since the IPO - Everbridge was priced at $12, at the mid-point of its expected price range of $11 to $13. The stock opened at $15.25 on its first day of trading. It reached a high of $17.55 on September 21. Currently, the stock trades at $16.74 (market close 10/3)-well positioned for an additional boost at the IPO quiet period expiration.
EVBG's impressive array of underwriters include Credit Suisse, BofA Merrill Lynch, Stifel, Pacific Crest, Raymond James, Canaccord Genuity, and William Blair.
More EVBG Background Info:
Everbridge Inc. - EVBG
Business Summary - Provides mass messaging and critical communication for emergency events to enterprises. It offers a suite of different product offerings, including: safety connection, mass notification, incident management, IT alerting, secure messaging, and community engagement.
The Bottom Line:
Establish a long position now before the release of underwriter reports on October 11th. Sell shares following the release of the reports.
Disclosure: I am/we are long EVBG.