Brokerages Set Eventbrite, Inc. (NYSE:EB) PT at $6.58

Eventbrite, Inc. (NYSE:EB) has been given a consensus rating of “Hold” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.58.

Several research firms recently weighed in on EB. BWS Financial restated a “buy” rating and set a $7.00 target price on shares of Eventbrite in a research note on Friday, August 9th. B. Riley lowered their price objective on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Morgan Stanley reduced their target price on shares of Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $4.00 in a report on Friday, August 9th. Finally, Truist Financial lowered shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Insider Activity

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 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 approximately $1,704,396.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.46% of the stock is owned by corporate insiders.

Institutional Trading of Eventbrite

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in Eventbrite by 3.5% in the fourth quarter. BNP Paribas Financial Markets now owns 71,858 shares of the company’s stock worth $601,000 after purchasing an additional 2,425 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Eventbrite by 3.5% during the second quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after acquiring an additional 3,829 shares during the period. Mine & Arao Wealth Creation & Management LLC. acquired a new position in shares of Eventbrite during the fourth quarter valued at $33,000. Swiss National Bank lifted its stake in shares of Eventbrite by 3.1% during the first quarter. Swiss National Bank now owns 159,300 shares of the company’s stock valued at $873,000 after acquiring an additional 4,800 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in Eventbrite by 18.6% in the fourth quarter. New York State Common Retirement Fund now owns 35,380 shares of the company’s stock valued at $296,000 after buying an additional 5,549 shares during the period. 91.64% of the stock is currently owned by institutional investors.

Eventbrite Stock Performance

Shares of EB opened at $3.18 on Wednesday. The stock has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $5.15. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $305.60 million, a PE ratio of -16.74 and a beta of 2.34. Eventbrite has a 1 year low of $2.51 and a 1 year high of $10.40.

Eventbrite (NYSE:EB) last announced its quarterly earnings data 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 business had revenue of $84.55 million during 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 quarter last year, the business posted ($0.03) EPS. On average, analysts predict that Eventbrite will post -0.24 earnings per share for the current fiscal year.

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.