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

Eventbrite, Inc. (NYSE:EB) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

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

Insider Activity

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

Institutional Trading of Eventbrite

A number of hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd grew its stake in shares of Eventbrite by 217.7% during the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after buying an additional 1,907 shares during the period. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in Eventbrite during the fourth quarter worth about $33,000. Victory Capital Management Inc. acquired a new position in shares of Eventbrite in the 4th quarter valued at about $89,000. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Eventbrite during the 3rd quarter worth about $108,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Eventbrite during the 4th quarter worth approximately $102,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Eventbrite Price Performance

Shares of NYSE:EB opened at $5.38 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 has a 50-day moving average price of $5.87 and a 200 day moving average price of $7.28. Eventbrite has a 52 week low of $5.00 and a 52 week high of $11.90. The company has a market cap of $548.06 million, a P/E ratio of -19.93 and a beta of 2.51.

Eventbrite (NYSE:EB) last issued its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $87.76 million for the quarter, compared to analyst estimates of $88.45 million. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. Research analysts predict that Eventbrite will post -0.12 earnings per share for the current 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.