Analysts Expect Eventbrite Inc (NYSE:EB) Will Post Quarterly Sales of $78.34 Million

Wall Street brokerages expect Eventbrite Inc (NYSE:EB) to post sales of $78.34 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Eventbrite’s earnings, with the lowest sales estimate coming in at $77.80 million and the highest estimate coming in at $78.90 million. Eventbrite reported sales of $75.92 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report on Thursday, March 5th.

On average, analysts expect that Eventbrite will report full-year sales of $321.98 million for the current financial year, with estimates ranging from $321.00 million to $322.60 million. For the next fiscal year, analysts forecast that the company will post sales of $362.02 million, with estimates ranging from $352.50 million to $367.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Eventbrite.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). Eventbrite had a negative return on equity of 15.65% and a negative net margin of 21.24%. The company had revenue of $82.10 million during the quarter, compared to the consensus estimate of $76.49 million. During the same quarter in the prior year, the firm earned ($1.24) earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year.

A number of research firms have commented on EB. SunTrust Banks set a $20.00 target price on shares of Eventbrite and gave the stock a “hold” rating in a research report on Friday, August 16th. ValuEngine raised Eventbrite from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Zacks Investment Research cut Eventbrite from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Eventbrite currently has an average rating of “Buy” and an average price target of $22.50.

In other Eventbrite news, insider Samantha Harnett sold 7,361 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $18.01, for a total transaction of $132,571.61. Also, CTO Patrick David Poels sold 25,627 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $18.41, for a total transaction of $471,793.07. Company insiders own 19.61% of the company’s stock.

Several hedge funds have recently modified their holdings of EB. Tower Research Capital LLC TRC increased its stake in shares of Eventbrite by 2,082.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,182 shares of the company’s stock worth $39,000 after purchasing an additional 2,082 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in Eventbrite by 2,510.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,976 shares of the company’s stock valued at $48,000 after purchasing an additional 2,862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Eventbrite during the third quarter valued at about $49,000. NumerixS Investment Technologies Inc grew its holdings in Eventbrite by 41.9% during the second quarter. NumerixS Investment Technologies Inc now owns 8,800 shares of the company’s stock valued at $143,000 after purchasing an additional 2,600 shares during the period. Finally, CSat Investment Advisory L.P. purchased a new stake in Eventbrite in the second quarter worth about $154,000. 56.23% of the stock is owned by hedge funds and other institutional investors.

Eventbrite stock traded up $0.14 during midday trading on Thursday, reaching $19.32. 638,668 shares of the company traded hands, compared to its average volume of 873,904. Eventbrite has a 12 month low of $15.30 and a 12 month high of $33.82. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $19.39 and a two-hundred day moving average of $17.73.

Eventbrite Company Profile

Eventbrite, Inc operates a ticketing and event technology platform in the United States and internationally. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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