What is B. Riley’s Forecast for Eventbrite FY2024 Earnings?

Eventbrite, Inc. (NYSE:EB) – Research analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for shares of Eventbrite in a note issued to investors on Monday, November 11th. B. Riley analyst N. Khan now forecasts that the company will post earnings per share of ($0.10) for the year, up from their prior forecast of ($0.16). B. Riley has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for Eventbrite’s current full-year earnings is ($0.18) per share. B. Riley also issued estimates for Eventbrite’s Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.05) EPS, Q3 2025 earnings at $0.02 EPS, FY2025 earnings at $0.01 EPS and FY2026 earnings at $0.62 EPS.

Other analysts have also recently issued research reports about the stock. KeyCorp cut shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th. BWS Financial reissued a “buy” rating and set a $7.00 price target on shares of Eventbrite in a research report on Wednesday. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $4.00 in a research note on Friday, August 9th. Finally, Truist Financial downgraded shares of Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.58.

Eventbrite Price Performance

Shares of EB stock opened at $3.51 on Thursday. The firm has a market cap of $336.83 million, a P/E ratio of -38.94 and a beta of 2.29. The firm has a fifty day moving average of $3.02 and a two-hundred day moving average of $4.04. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite has a 1-year low of $2.51 and a 1-year high of $9.20.

Insider Activity at Eventbrite

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the company’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 in the company, valued at $1,903,300.56. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of the firm’s 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 of the company’s stock, valued at approximately $1,704,396.16. The trade was a 13.15 % decrease in their position. The disclosure for this sale can be found here. 21.46% of the stock is owned by corporate insiders.

Institutional Trading of Eventbrite

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in Eventbrite during the third quarter valued at approximately $25,000. Quadrature Capital Ltd acquired a new stake in shares of Eventbrite in the first quarter valued at approximately $64,000. Paloma Partners Management Co bought a new stake in Eventbrite during the 3rd quarter worth about $44,000. Public Employees Retirement System of Ohio bought a new position in Eventbrite in the first quarter valued at approximately $102,000. Finally, Entropy Technologies LP acquired a new position in Eventbrite during the first quarter worth $115,000. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.