Eventbrite (NYSE:EB) Hits New 12-Month Low at $5.00

Eventbrite, Inc. (NYSE:EB) hit a new 52-week low on Tuesday . The stock traded as low as $5.00 and last traded at $5.06, with a volume of 215632 shares traded. The stock had previously closed at $5.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EB shares. Morgan Stanley dropped their target price 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. Truist Financial dropped their target price 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, Piper Sandler dropped their target price on Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Eventbrite Stock Performance

The company has a market cap of $524.63 million, a P/E ratio of -19.07 and a beta of 2.51. The company has a 50 day moving average price of $6.37 and a 200-day moving average price of $7.47. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) 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 company had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Equities analysts expect that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the firm’s 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 of the company’s stock, valued at $1,975,271.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Eventbrite by 55.7% in the 3rd quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after purchasing an additional 1,470,551 shares during the period. Edmond DE Rothschild Holding S.A. boosted its position in shares of Eventbrite by 54.5% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock valued at $29,823,000 after purchasing an additional 1,259,000 shares during the period. Wellington Management Group LLP acquired a new position in shares of Eventbrite in the 1st quarter valued at $10,452,000. Norges Bank acquired a new position in shares of Eventbrite in the 4th quarter valued at $5,784,000. Finally, Invesco Ltd. boosted its position in shares of Eventbrite by 33.4% in the 3rd quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after purchasing an additional 900,925 shares during the period. 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.