Brokerages Set Eventbrite, Inc. (NYSE:EB) Target Price at $11.00

Shares of Eventbrite, Inc. (NYSE:EB) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $11.00.

Several research analysts have weighed in on EB shares. Piper Sandler lowered their price objective on Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Truist Financial lowered their price objective on Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley lowered their price objective on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th.

Eventbrite Price Performance

EB opened at $5.38 on Thursday. Eventbrite has a 1-year low of $5.00 and a 1-year high of $11.90. The stock’s fifty day simple moving average is $5.87 and its 200 day simple moving average is $7.25. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. The stock has a market cap of $548.05 million, a PE ratio of -19.93 and a beta of 2.51.

Eventbrite (NYSE:EB) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $88.45 million. As a group, research analysts expect that Eventbrite will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now owns 357,839 shares in the company, valued at $1,975,271.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Eventbrite by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,901,768 shares of the company’s stock valued at $77,911,000 after buying an additional 49,892 shares in the last quarter. Wellington Management Group LLP boosted its stake in Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after buying an additional 710,548 shares in the last quarter. American Century Companies Inc. boosted its stake in Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after buying an additional 1,470,551 shares in the last quarter. Invesco Ltd. boosted its stake in Eventbrite by 33.4% in the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after buying an additional 900,925 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Eventbrite by 54.5% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock valued at $29,823,000 after buying an additional 1,259,000 shares in the last quarter. Institutional investors own 91.64% of the company’s stock.

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.