BWS Financial Reaffirms “Buy” Rating for Eventbrite (NYSE:EB)

Eventbrite (NYSE:EB)‘s stock had its “buy” rating reaffirmed by equities researchers at BWS Financial in a report issued on Friday, Benzinga reports. They currently have a $12.00 price target on the stock. BWS Financial’s price target would suggest a potential upside of 117.79% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 28th. KeyCorp decreased 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. Piper Sandler cut 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, Truist Financial reduced their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.29.

Eventbrite Trading Down 0.7 %

Shares of NYSE EB opened at $5.51 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $561.29 million, a PE ratio of -29.00 and a beta of 2.44. Eventbrite has a twelve month low of $5.00 and a twelve month high of $11.90. The stock has a fifty day simple moving average of $5.56 and a 200-day simple moving average of $7.15.

Eventbrite (NYSE:EB) last released its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The company had revenue of $87.76 million during the quarter, compared to the consensus estimate of $88.45 million. Eventbrite had a negative return on equity of 10.02% and a negative net margin of 5.47%. On average, equities analysts forecast that Eventbrite will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction on Friday, March 15th. The shares were 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 approximately $1,975,271.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.28% of the stock is currently owned by insiders.

Institutional Trading of Eventbrite

Large investors have recently made changes to their positions in the company. Deepwater Asset Management LLC increased its position in Eventbrite by 590.2% during the third quarter. Deepwater Asset Management LLC now owns 499,059 shares of the company’s stock worth $4,921,000 after buying an additional 426,748 shares during the period. Rice Hall James & Associates LLC grew its position in shares of Eventbrite by 12.4% during the third quarter. Rice Hall James & Associates LLC now owns 1,623,425 shares of the company’s stock worth $16,007,000 after acquiring an additional 178,475 shares during the last quarter. AlpInvest Partners B.V. acquired a new position in shares of Eventbrite in the 3rd quarter valued at $382,000. Capula Management Ltd purchased a new stake in Eventbrite in the 3rd quarter valued at $916,000. Finally, J.P. Morgan Private Wealth Advisors LLC boosted its stake in 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 purchasing an additional 1,271 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

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.