Eventbrite (NYSE:EB) Reaches New 1-Year Low at $6.65

Eventbrite, Inc. (NYSE:EBGet Rating) reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.65 and last traded at $6.77, with a volume of 3193 shares. The stock had previously closed at $6.75.

Analyst Ratings Changes

Several research analysts have commented on EB shares. KeyCorp started coverage on shares of Eventbrite in a report on Wednesday, July 13th. They set a “sector weight” rating for the company. Morgan Stanley lowered their price target on shares of Eventbrite from $16.00 to $9.00 and set an “equal weight” rating for the company in a report on Friday, September 9th. Piper Sandler began coverage on shares of Eventbrite in a report on Thursday, July 14th. They set an “overweight” rating and a $13.00 price target for the company. Truist Financial reduced their price objective on shares of Eventbrite to $23.00 in a research report on Friday, June 3rd. Finally, Stifel Nicolaus reduced their price objective on shares of Eventbrite from $15.00 to $14.00 in a research report on Tuesday, June 28th.

Eventbrite Stock Down 2.4 %

The firm has a market cap of $646.95 million, a PE ratio of -8.77 and a beta of 2.58. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.77 and a current ratio of 1.77. The firm’s 50-day moving average price is $8.29 and its two-hundred day moving average price is $10.87.

Eventbrite (NYSE:EBGet Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Eventbrite had a negative net margin of 30.61% and a negative return on equity of 43.35%. The business had revenue of $66.04 million during the quarter, compared to analysts’ expectations of $65.07 million. As a group, equities research analysts expect that Eventbrite, Inc. will post -0.7 EPS for the current fiscal year.

Institutional Trading of Eventbrite

Several institutional investors and hedge funds have recently bought and sold shares of EB. Clal Insurance Enterprises Holdings Ltd increased its stake in Eventbrite by 107.3% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,753,458 shares of the company’s stock valued at $40,669,000 after buying an additional 1,425,250 shares during the period. Cadian Capital Management LP increased its stake in Eventbrite by 26.1% in the 1st quarter. Cadian Capital Management LP now owns 4,964,043 shares of the company’s stock valued at $73,319,000 after buying an additional 1,026,200 shares during the period. Vanguard Group Inc. increased its stake in Eventbrite by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 7,972,046 shares of the company’s stock valued at $117,747,000 after buying an additional 781,763 shares during the period. Marathon Asset Management Ltd increased its stake in Eventbrite by 13.2% in the 2nd quarter. Marathon Asset Management Ltd now owns 2,970,141 shares of the company’s stock valued at $30,503,000 after buying an additional 347,205 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eventbrite in the 2nd quarter valued at $3,493,000. Hedge funds and other institutional investors own 83.88% of the company’s stock.

About Eventbrite

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Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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, increase reach, and drive ticket sales.

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