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

Shares of Eventbrite, Inc. (NYSE:EB) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $10.29.

A number of equities analysts have issued reports on the company. KeyCorp cut their price target on Eventbrite from $13.00 to $6.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler reduced their price target on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Truist Financial decreased their price target on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley cut their price objective on shares of 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 stock opened at $5.37 on Thursday. 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 simple moving average is $5.73 and its 200 day simple moving average is $7.21. Eventbrite has a 12-month low of $5.00 and a 12-month high of $11.90. The firm has a market cap of $546.53 million, a price-to-earnings ratio of -19.87 and a beta of 2.51.

Eventbrite (NYSE:EB) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 company had revenue of $87.76 million for the quarter, compared to the consensus estimate of $88.45 million. On average, analysts expect that Eventbrite will post -0.12 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Eventbrite

Several large investors have recently bought and sold shares of EB. Alberta Investment Management Corp purchased a new stake in shares of Eventbrite in the third quarter valued at about $1,744,000. Wellington Management Group LLP increased its stake in Eventbrite by 43.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock valued at $36,533,000 after buying an additional 1,116,749 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Eventbrite by 94.5% during the 3rd quarter. Acadian Asset Management LLC now owns 109,979 shares of the company’s stock worth $1,083,000 after buying an additional 53,425 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Eventbrite by 33.4% in the 3rd quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after buying an additional 900,925 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of 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 acquiring an additional 1,470,551 shares in the last quarter. 91.64% of the stock is currently 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.