Eventbrite, Inc. (NYSE:EB) Receives $6.58 Consensus Target Price from Analysts

Eventbrite, Inc. (NYSE:EB) has earned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat.com reports. Four investment 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 brokerages that have updated their coverage on the stock in the last year is $6.58.

Several research analysts have weighed in on the company. B. Riley lowered their price target 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 shares of Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. BWS Financial reissued a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a research report on Thursday, October 3rd. KeyCorp downgraded Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. Finally, Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $4.00 in a research report on Friday, August 9th.

Eventbrite Price Performance

Shares of EB opened at $2.98 on Thursday. The company has a 50 day moving average of $2.96 and a 200-day moving average of $4.33. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $289.40 million, a P/E ratio of -15.68 and a beta of 2.32. Eventbrite has a twelve month low of $2.51 and a twelve month high of $9.20.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The firm had revenue of $84.55 million for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted ($0.03) EPS. As a group, equities research analysts forecast that Eventbrite will post -0.24 EPS for the current fiscal year.

Insider Transactions at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at $1,903,300.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at $1,903,300.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.46% of the company’s stock.

Institutional Investors Weigh In On Eventbrite

Several institutional investors and hedge funds have recently added to or reduced their stakes in EB. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Eventbrite by 47.7% during the 1st 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. Nantahala Capital Management LLC bought a new position in shares of Eventbrite in the second quarter worth about $7,744,000. Acadian Asset Management LLC boosted its stake in shares of Eventbrite by 125.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock valued at $9,573,000 after purchasing an additional 1,102,809 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Eventbrite by 674.1% during the 1st 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 during the last quarter. Finally, Wellington Management Group LLP increased its position in Eventbrite by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after purchasing an additional 710,548 shares in the last quarter. 91.64% of the stock is currently 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.