Eventbrite, Inc. (NYSE:EB) Short Interest Update

Eventbrite, Inc. (NYSE:EB) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 9,740,000 shares, an increase of 8.2% from the May 15th total of 9,000,000 shares. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is presently 5.4 days.

Institutional Investors Weigh In On Eventbrite

A number of institutional investors and hedge funds have recently modified their holdings of EB. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Eventbrite by 47.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock worth $28,868,000 after buying an additional 1,700,600 shares in the last quarter. American Century Companies Inc. raised its stake in Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after purchasing an additional 1,470,551 shares in the last quarter. Wellington Management Group LLP raised its stake in Eventbrite by 43.1% in the third quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock valued at $36,533,000 after purchasing an additional 1,116,749 shares in the last quarter. Invesco Ltd. raised its stake in Eventbrite by 33.4% in the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after purchasing an additional 900,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Eventbrite by 674.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after purchasing an additional 848,461 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

Eventbrite Price Performance

NYSE EB opened at $4.82 on Wednesday. Eventbrite has a 52 week low of $4.69 and a 52 week high of $11.90. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. The firm’s 50-day simple moving average is $5.23 and its two-hundred day simple moving average is $6.58.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $86.25 million for the quarter, compared to the consensus estimate of $85.26 million. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%. Research analysts predict that Eventbrite will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. KeyCorp reduced their target price on shares of Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Truist Financial reduced their target price on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley reduced their price target on shares of Eventbrite from $9.00 to $6.50 and set an “equal weight” rating for the company in a research report on Tuesday, May 21st. BWS Financial restated a “buy” rating and set a $12.00 price target on shares of Eventbrite in a research report on Friday, May 3rd. Finally, Piper Sandler reduced their price target on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

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.