Everbridge's Successful IPO Could Greenlight More Tech Debuts

Everbridge, a provider of Software as a Service (SaaS) based emergency communications services, had a successful market debut today; shares of the growing tech company gained over 22% to $14.70 in afternoon trading. The stock is now listed under the ticker EVBG on the Nasdaq.

Everbridge’s platform is a useful tool in critical situations when other modes of communication may be down. The service was used in the aftermath of Hurricane Sandy and during the lockdown of the Boston area following the Boston Marathon bombings. The company has shown solid sales growth—31% in its most recent quarter—and over one billion messages were sent over its platform last year.

Pricing its shares at $12, right in the middle of its previously-disclosed $11 to $13 per share range, Everbridge raised $90 million on its first day of trading. Despite today’s success Everbridge isn’t perfect. The company is not currently profitable, and with quarterly sales of just $18.6 million, Everbridge still has a long way to go before it is a major player on the market.

Nevertheless, Everbridge’s first day of trading once again proves that investors are accepting of tech IPOs right now. With recently-public tech stocks like Acacia Communications (NASDAQ:ACIA) , Twilio (NYSE:TWLO) , and Line (NYSE:LN) all up big since their debuts, it looks like the time for tech companies to IPO is now.

With that said, we already know of quite a few technology companies that are currently in the IPO pipeline. PointClickCare, a SaaS health record management company; Trivago, an online hotel search aggregator owned by Expedia (NASDAQ:EXPE) ; and Coupa Software, a cloud-based enterprise financial services company, are just a few of the tech IPOs on the horizon (also read: Here's 3 Tech Companies That Could IPO Before the End of 2016).

Despite the sluggishness of the IPO market so far in 2016, the success of the tech companies that have gone public should inspire other debuts soon. For more coverage on the state of the IPO market, check out our IPO Market Outlook for Second Half of 2016.

If you’d like to hear about which other companies thinks could be going public soon, check out this exclusive interview with IPO-focused research firm Renaissance Capital’s own Kathleen Smith from the Zacks Friday Finish Line team:

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