Analysts Set Eventbrite, Inc. (NYSE:EB) Target Price at $12.00

Eventbrite, Inc. (NYSE:EB) has received a consensus rating of “Moderate Buy” from the four ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.00.

Several research analysts recently issued reports on EB shares. TheStreet upgraded shares of Eventbrite from a “d” rating to a “c-” rating in a research report on Friday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Eventbrite from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Morgan Stanley upped their price target on shares of Eventbrite from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Finally, Piper Sandler upped their price target on shares of Eventbrite from $11.00 to $13.00 in a research report on Friday, July 14th.

Insider Buying and Selling

In related news, CTO Vivek Sagi sold 100,568 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $11.24, for a total value of $1,130,384.32. Following the completion of the transaction, the chief technology officer now directly owns 181,721 shares of the company’s stock, valued at $2,042,544.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Eventbrite

Several institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Eventbrite during the second quarter valued at approximately $346,000. Wells Fargo & Company MN increased its position in shares of Eventbrite by 80.2% during the second quarter. Wells Fargo & Company MN now owns 32,201 shares of the company’s stock valued at $308,000 after acquiring an additional 14,329 shares in the last quarter. Blueshift Asset Management LLC purchased a new stake in Eventbrite in the second quarter worth approximately $230,000. Polar Asset Management Partners Inc. purchased a new stake in Eventbrite in the second quarter worth approximately $2,019,000. Finally, RBF Capital LLC boosted its holdings in Eventbrite by 518.9% in the second quarter. RBF Capital LLC now owns 119,270 shares of the company’s stock worth $1,138,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Eventbrite Trading Up 1.3 %

Eventbrite stock opened at $10.26 on Friday. The stock has a market cap of $1.03 billion, a P/E ratio of -31.09 and a beta of 2.64. Eventbrite has a fifty-two week low of $5.30 and a fifty-two week high of $11.90. The firm’s fifty day moving average price is $10.31 and its 200-day moving average price is $8.84. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.91 and a current ratio of 1.91.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.10. The firm had revenue of $78.91 million for the quarter, compared to analysts’ expectations of $78.74 million. Eventbrite had a negative net margin of 11.06% and a negative return on equity of 19.89%. Equities research analysts forecast that Eventbrite will post -0.34 earnings per share for the current fiscal year.

About Eventbrite

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, enhance reach, and drive ticket sales.