Eventbrite, Inc. (NYSE:EB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Eventbrite, Inc. (NYSE:EB) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $11.00.

A number of equities analysts recently weighed in on the stock. Piper Sandler reduced their target price on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Truist Financial reduced their price objective on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley reduced their price objective on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th.

Eventbrite Price Performance

EB opened at $5.26 on Thursday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. Eventbrite has a 12 month low of $5.00 and a 12 month high of $11.90. The company has a fifty day simple moving average of $6.09 and a 200 day simple moving average of $7.34. The stock has a market cap of $535.84 million, a P/E ratio of -19.48 and a beta of 2.51.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. On average, research analysts expect that Eventbrite will post -0.12 EPS for the current year.

Insider Activity at Eventbrite

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now directly owns 357,839 shares of the company’s stock, valued at approximately $1,975,271.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. J.P. Morgan Private Wealth Advisors LLC boosted its position in shares of Eventbrite by 4.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock worth $308,000 after acquiring an additional 1,271 shares in the last quarter. Covestor Ltd boosted its position in shares of Eventbrite by 217.7% during the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after acquiring an additional 1,907 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Eventbrite by 3.5% during the 4th quarter. BNP Paribas Financial Markets now owns 71,858 shares of the company’s stock worth $601,000 after acquiring an additional 2,425 shares in the last quarter. Swiss National Bank boosted its position in shares of Eventbrite by 1.5% during the 3rd quarter. Swiss National Bank now owns 181,000 shares of the company’s stock worth $1,785,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Legato Capital Management LLC boosted its position in shares of Eventbrite by 18.2% during the 4th quarter. Legato Capital Management LLC now owns 20,442 shares of the company’s stock worth $171,000 after acquiring an additional 3,141 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

About Eventbrite

Eventbrite, Inc operates a two-sided marketplace that provides self-service ticketing and marketing tools for event creators 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, enhance reach, and drive ticket sales.