Eventbrite, Inc. (NYSE:EB) Receives $11.00 Consensus Target Price from Analysts

Eventbrite, Inc. (NYSE:EB) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.29.

A number of analysts recently issued reports on the company. Piper Sandler lowered their target price on Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Truist Financial cut their price objective on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. KeyCorp lowered their target price on Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Morgan Stanley cut their price target on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th.

Eventbrite Trading Up 1.6 %

Shares of NYSE EB opened at $5.37 on Thursday. Eventbrite has a twelve month low of $5.00 and a twelve month high of $11.90. The stock has a market cap of $546.53 million, a price-to-earnings ratio of -19.87 and a beta of 2.51. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The company’s fifty day moving average is $5.73 and its 200-day moving average is $7.21.

Eventbrite (NYSE:EB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. The firm had revenue of $87.76 million for the quarter, compared to analyst estimates of $88.45 million. Equities research analysts predict that Eventbrite will post -0.12 EPS for the current year.

Insider Buying and Selling

In other news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the sale, the chief financial officer now owns 357,839 shares in the company, valued at approximately $1,975,271.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 17.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eventbrite

A number of institutional investors and hedge funds have recently modified their holdings of EB. Deepwater Asset Management LLC raised its stake in Eventbrite by 590.2% in the third quarter. Deepwater Asset Management LLC now owns 499,059 shares of the company’s stock valued at $4,921,000 after buying an additional 426,748 shares during the period. Rice Hall James & Associates LLC lifted its holdings in Eventbrite by 12.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,623,425 shares of the company’s stock valued at $16,007,000 after purchasing an additional 178,475 shares during the last quarter. AlpInvest Partners B.V. bought a new position in Eventbrite during the third quarter worth $382,000. Capula Management Ltd acquired a new position in shares of Eventbrite in the third quarter valued at $916,000. Finally, J.P. Morgan Private Wealth Advisors LLC raised its position in shares of Eventbrite by 4.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock valued at $308,000 after purchasing an additional 1,271 shares during the period. 91.64% of the stock is owned by institutional investors.

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.