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

Eventbrite, Inc. (NYSE:EB) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research analysts have recently commented on the company. Truist Financial reduced their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Piper Sandler reduced their price target on Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley reduced their price target on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th.

Insider Activity at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the business’s 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 sale, the chief financial officer now directly owns 357,839 shares in the company, valued at approximately $1,975,271.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.28% of the stock is owned by insiders.

Institutional Trading of Eventbrite

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock worth $40,524,000 after purchasing an additional 1,470,551 shares during the period. Edmond DE Rothschild Holding S.A. increased its stake in Eventbrite by 54.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock worth $29,823,000 after purchasing an additional 1,259,000 shares during the period. Wellington Management Group LLP increased its stake in Eventbrite by 43.1% during the third quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock worth $36,533,000 after purchasing an additional 1,116,749 shares during the period. Invesco Ltd. increased its stake in Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after purchasing an additional 900,925 shares during the period. Finally, Deepwater Asset Management LLC increased its stake in Eventbrite by 148.9% during the fourth quarter. Deepwater Asset Management LLC now owns 1,242,083 shares of the company’s stock worth $10,384,000 after purchasing an additional 743,024 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Eventbrite Trading Down 2.2 %

Shares of EB opened at $5.26 on Thursday. Eventbrite has a 52-week low of $5.00 and a 52-week high of $11.90. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The firm’s fifty day moving average is $6.09 and its two-hundred day moving average is $7.34. The stock has a market cap of $535.84 million, a PE ratio of -19.48 and a beta of 2.51.

Eventbrite (NYSE:EB) last announced its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. The company had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $88.45 million. Research analysts forecast that Eventbrite will post -0.12 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.