Eventbrite (NYSE:EB) Sets New 52-Week Low at $6.65

Eventbrite, Inc. (NYSE:EBGet Rating) hit a new 52-week low during trading on Wednesday . The company traded as low as $6.65 and last traded at $6.77, with a volume of 3193 shares trading hands. The stock had previously closed at $6.75.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EB. Truist Financial lowered their price objective on shares of Eventbrite to $23.00 in a research note on Friday, June 3rd. Morgan Stanley cut their price objective on shares of Eventbrite from $16.00 to $9.00 and set an “equal weight” rating on the stock in a report on Friday, September 9th. KeyCorp started coverage on shares of Eventbrite in a report on Wednesday, July 13th. They issued a “sector weight” rating on the stock. Stifel Nicolaus cut their price target on shares of Eventbrite from $15.00 to $14.00 in a report on Tuesday, June 28th. Finally, Piper Sandler began coverage on shares of Eventbrite in a research report on Thursday, July 14th. They issued an “overweight” rating and a $13.00 price objective for the company.

Eventbrite Price Performance

The company has a 50 day moving average of $8.29 and a 200-day moving average of $10.87. The stock has a market capitalization of $646.95 million, a P/E ratio of -8.77 and a beta of 2.58. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.23.

Eventbrite (NYSE:EBGet Rating) last released its earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). The firm had revenue of $66.04 million for the quarter, compared to analyst estimates of $65.07 million. Eventbrite had a negative return on equity of 43.35% and a negative net margin of 30.61%. Sell-side analysts predict that Eventbrite, Inc. will post -0.7 EPS for the current year.

Institutional Investors Weigh In On Eventbrite

Institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. lifted its holdings in Eventbrite by 5.4% in the 1st quarter. First Republic Investment Management Inc. now owns 24,868 shares of the company’s stock worth $367,000 after purchasing an additional 1,280 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in Eventbrite by 13.9% in the 1st quarter. Centaurus Financial Inc. now owns 10,645 shares of the company’s stock worth $157,000 after purchasing an additional 1,300 shares during the last quarter. Rhumbline Advisers lifted its holdings in Eventbrite by 1.9% in the 4th quarter. Rhumbline Advisers now owns 75,477 shares of the company’s stock worth $1,316,000 after purchasing an additional 1,378 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Eventbrite by 12.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 14,300 shares of the company’s stock worth $147,000 after purchasing an additional 1,600 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Eventbrite by 11.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 16,603 shares of the company’s stock worth $290,000 after purchasing an additional 1,645 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.

About Eventbrite

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Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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, increase reach, and drive ticket sales.

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