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

Shares of Eventbrite, Inc. (NYSE:EB) have received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. Two investment 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 brokerages that have covered the stock in the last year is $11.00.

EB has been the subject of several research reports. Truist Financial decreased their price target on shares of 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 shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. B. Riley initiated coverage on shares of Eventbrite in a research note on Friday, December 8th. They set a “buy” rating and a $13.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th.

Insider Activity at Eventbrite

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the completion of the sale, the chief financial officer now owns 357,839 shares in the company, valued at approximately $1,975,271.28. The transaction 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 Inflows and Outflows

Several hedge funds have recently modified their holdings of EB. MetLife Investment Management LLC increased its stake in shares of Eventbrite by 60.6% during the 1st quarter. MetLife Investment Management LLC now owns 38,737 shares of the company’s stock worth $572,000 after purchasing an additional 14,621 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Eventbrite by 21.7% in the 1st quarter. Vontobel Holding Ltd. now owns 56,000 shares of the company’s stock valued at $827,000 after buying an additional 10,000 shares during the last quarter. Blair William & Co. IL grew its stake in Eventbrite by 324.1% in the 1st quarter. Blair William & Co. IL now owns 280,354 shares of the company’s stock valued at $4,141,000 after buying an additional 214,243 shares during the last quarter. Sei Investments Co. grew its stake in Eventbrite by 12.5% in the 1st quarter. Sei Investments Co. now owns 59,144 shares of the company’s stock valued at $874,000 after buying an additional 6,555 shares during the last quarter. Finally, Vanguard Group Inc. grew 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 last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Eventbrite Price Performance

EB opened at $5.48 on Friday. The company has a 50-day moving average of $7.11 and a 200-day moving average of $7.87. The company has a market capitalization of $558.25 million, a P/E ratio of -20.30 and a beta of 2.50. Eventbrite has a 1-year low of $5.05 and a 1-year high of $11.90. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99.

Eventbrite (NYSE:EB) last posted 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. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. The business had revenue of $87.76 million during the quarter, compared to analyst estimates of $88.45 million. Equities analysts expect that Eventbrite will post -0.12 EPS 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.