Eventbrite, Inc. (NYSE:EB) Receives $10.29 Consensus Target Price from Brokerages

Eventbrite, Inc. (NYSE:EB) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.93.

Several equities research analysts recently weighed in on the company. BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Eventbrite in a report on Friday, May 3rd. Truist Financial reduced their target price on Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Piper Sandler reduced their target price on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Morgan Stanley reduced their target price on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating for the company in a report on Tuesday. Finally, KeyCorp reduced their target price on Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th.

Insider Transactions at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the sale, the chief financial officer now directly owns 357,839 shares in the company, valued at $1,975,271.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 17.28% of the company’s stock.

Institutional Trading of Eventbrite

A number of institutional investors and hedge funds have recently modified their holdings of EB. Vanguard Group Inc. grew its position in Eventbrite by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,901,768 shares of the company’s stock valued at $77,911,000 after acquiring an additional 49,892 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Eventbrite by 47.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after acquiring an additional 1,700,600 shares during the period. Wellington Management Group LLP grew its position in Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after acquiring an additional 710,548 shares during the period. American Century Companies Inc. grew its position in Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after acquiring an additional 1,470,551 shares during the period. Finally, Invesco Ltd. grew its position in Eventbrite by 33.4% in the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after acquiring an additional 900,925 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Eventbrite Trading Up 1.0 %

Shares of NYSE EB opened at $5.16 on Monday. The stock has a market cap of $501.09 million, a price-to-earnings ratio of -27.16 and a beta of 2.44. The business has a 50 day simple moving average of $5.44 and a 200 day simple moving average of $6.88. Eventbrite has a 52 week low of $5.00 and a 52 week high of $11.90. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.86 and a current ratio of 1.86.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate 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 return on equity of 10.00% and a negative net margin of 5.47%. On average, research analysts predict that Eventbrite will post -0.16 earnings per share for the current fiscal year.

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.