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

Eventbrite, Inc. (NYSE:EB) has been given a consensus recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.58.

Several equities research analysts have commented on the company. Piper Sandler downgraded 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. BWS Financial reissued a “buy” rating and set a $7.00 price objective on shares of Eventbrite in a research report on Friday, August 9th. Truist Financial cut shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. B. Riley cut their price target on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, KeyCorp lowered shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th.

Eventbrite Trading Down 1.4 %

Shares of NYSE EB opened at $2.90 on Friday. Eventbrite has a 1 year low of $2.51 and a 1 year high of $10.14. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50-day moving average of $3.77 and a 200 day moving average of $4.70. The stock has a market cap of $281.63 million, a P/E ratio of -15.26 and a beta of 2.33.

Eventbrite (NYSE:EB) last released its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $84.55 million during the quarter, compared to analyst estimates of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same period last year, the business earned ($0.03) earnings per share. As a group, sell-side analysts expect that Eventbrite will post -0.24 EPS for the current fiscal year.

Insider Transactions at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the transaction, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total transaction of $258,000.00. Following the completion of the sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the sale, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at $1,903,300.56. The disclosure for this sale can be found here. Company insiders own 21.46% of the company’s stock.

Institutional Investors Weigh In On Eventbrite

A number of hedge funds have recently modified their holdings of EB. Principal Financial Group Inc. bought a new stake in shares of Eventbrite during the 1st quarter valued at $58,000. Quadrature Capital Ltd purchased a new position in Eventbrite in the 1st quarter worth approximately $64,000. ANTIPODES PARTNERS Ltd purchased a new position in Eventbrite in the 1st quarter worth approximately $70,000. Victory Capital Management Inc. bought a new position in shares of Eventbrite during the fourth quarter worth $89,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Eventbrite in the 1st quarter worth $102,000. Institutional investors own 91.64% of the company’s stock.

Eventbrite Company Profile

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.