Eventbrite, Inc. (NYSE:EB) Receives Average Recommendation of “Hold” from Brokerages

Shares of Eventbrite, Inc. (NYSE:EB) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.58.

Several research analysts recently issued reports on the company. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Morgan Stanley cut their price target on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Tuesday, May 21st. B. Riley lowered their price objective on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler cut shares of Eventbrite from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $9.00 to $4.00 in a report on Friday, August 9th. Finally, Truist Financial lowered shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Insider Activity

In other news, CTO Vivek Sagi sold 75,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the transaction, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at $1,704,396.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 21.46% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

Several hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund grew its holdings in shares of Eventbrite by 18.6% during the fourth quarter. New York State Common Retirement Fund now owns 35,380 shares of the company’s stock valued at $296,000 after buying an additional 5,549 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Eventbrite during the 4th quarter valued at about $89,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in Eventbrite during the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC increased its holdings in shares of Eventbrite by 62.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 220,313 shares of the company’s stock valued at $1,842,000 after purchasing an additional 84,933 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Eventbrite by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,464 shares of the company’s stock worth $5,396,000 after purchasing an additional 19,907 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Eventbrite Stock Down 2.1 %

NYSE:EB opened at $3.23 on Wednesday. The company has a market cap of $313.68 million, a price-to-earnings ratio of -17.00 and a beta of 2.34. Eventbrite has a twelve month low of $2.51 and a twelve month high of $10.40. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.95. The stock has a fifty day simple moving average of $4.36 and a 200-day simple moving average of $5.27.

Eventbrite (NYSE:EB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. The company had revenue of $84.55 million during the quarter, compared to analyst estimates of $86.15 million. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%. During the same quarter last year, the business posted ($0.03) EPS. Analysts anticipate that Eventbrite will post -0.16 EPS for the current 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.