Carillon Tower Advisers: “Everbridge (EVBG)’s Valuation is Extremely Attractive to Us”

Carillon Tower Advisers, an investment management firm, published its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. Small-cap stocks overall posted minor gains in the final quarter of 2021. In what has become a common theme, the Russell 2000® Growth Index (up 0.02%) trailed its Russell 2000® Value Index (up 4.36%) counterpart for the fifth consecutive quarter. Sector returns across the Russell 2000 Growth Index were mostly positive, with the defensively oriented utilities (up 14.18%) and real estate (up 13.94%) sectors leading the way. Industrials (up 9.73%), financials (up 9.05%), and consumer staples (up 5.67%) also provided returns that outpaced the benchmark. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Carillon Eagle Small Cap Growth Fund, in its Q4 2021 investor letter, mentioned Everbridge, Inc. (NASDAQ: EVBG) and discussed its stance on the firm. Everbridge, Inc. is a Burlington, Massachusetts-based software company with a $2.0 billion market capitalization. EVBG delivered a -23.82% return since the beginning of the year, while its 12-month returns are down by -63.52%. The stock closed at $51.29 per share on February 11, 2022.

Here is what Carillon Eagle Small Cap Growth Fund has to say about Everbridge, Inc. in its Q4 2021 investor letter:

“Everbridge is a cloud-based enterprise software provider of a real-time communications platform used by state and local governments as well as companies to send alerts to their constituents via phone and/or email. The stock fell in the quarter following the unanticipated departure of the CEO, who is leaving to lead a private cloud software company. The firm also subsequently provided revenue guidance for next year that came in below investor expectations. We believe Everbridge’s growth prospects remain healthy and its valuation is extremely attractive to us at these levels.”

Photo by Danial Igdery on Unsplash

Our calculations show that Everbridge, Inc. (NASDAQ: EVBG) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. EVBG was in 23 hedge fund portfolios at the end of the third quarter of 2021, compared to 23 funds in the previous quarter. Everbridge, Inc. (NASDAQ: EVBG) delivered a -61.36% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on EVBG in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.