Eventbrite (NYSE:EB) Given “Buy” Rating at BWS Financial

Eventbrite (NYSE:EB)‘s stock had its “buy” rating reaffirmed by equities research analysts at BWS Financial in a report released on Thursday, Benzinga reports. They presently have a $7.00 target price on the stock. BWS Financial’s price objective would suggest a potential upside of 157.35% from the company’s current price.

Other equities research analysts have also issued reports about the company. KeyCorp lowered Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. B. Riley cut their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler lowered Eventbrite from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $9.00 to $4.00 in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Eventbrite has a consensus rating of “Hold” and an average target price of $6.58.

Eventbrite Trading Down 3.9 %

Eventbrite stock traded down $0.11 during trading hours on Thursday, reaching $2.72. The company had a trading volume of 109,754 shares, compared to its average volume of 1,800,700. 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 company has a 50-day moving average price of $3.41 and a 200 day moving average price of $4.57. The firm has a market cap of $264.15 million, a price-to-earnings ratio of -14.37 and a beta of 2.33. Eventbrite has a 12-month low of $2.51 and a 12-month high of $9.65.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $84.55 million for the quarter, compared to analysts’ expectations of $86.15 million. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. During the same period in the previous year, the firm earned ($0.03) EPS. Equities analysts forecast that Eventbrite will post -0.24 earnings per share for the current year.

Insider Activity at Eventbrite

In related news, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $3.44, for a total value 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 disclosure for this sale can be found here. 21.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eventbrite

Several hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new position in shares of Eventbrite in the first quarter worth $58,000. Quadrature Capital Ltd purchased a new position in shares of Eventbrite in the first quarter worth $64,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Eventbrite in the first quarter worth $70,000. Public Employees Retirement System of Ohio purchased a new position in shares of Eventbrite in the first quarter worth $102,000. Finally, Entropy Technologies LP purchased a new position in shares of Eventbrite in the first quarter worth $115,000. 91.64% of the stock is owned by institutional investors.

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.