Eventbrite (NYSE:EB) PT Lowered to $6.00 at KeyCorp

Eventbrite (NYSE:EB) had its price objective trimmed by KeyCorp from $13.00 to $6.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Piper Sandler lowered their price target on shares of Eventbrite from $13.00 to $9.00 and set an overweight rating on the stock in a report on Wednesday, February 28th. Truist Financial lowered their price target on shares of Eventbrite from $17.00 to $11.00 and set a buy rating on the stock in a report on Wednesday, February 28th. Finally, Morgan Stanley lowered their price target on shares of Eventbrite from $11.00 to $9.00 and set an equal weight rating on the stock in a report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Eventbrite currently has an average rating of Moderate Buy and an average price target of $10.29.

Eventbrite Stock Down 0.9 %

EB stock opened at $5.50 on Tuesday. The firm’s fifty day simple moving average is $5.56 and its 200-day simple moving average is $7.16. Eventbrite has a 12 month low of $5.00 and a 12 month high of $11.90. The company has a market capitalization of $560.29 million, a P/E ratio of -20.37 and a beta of 2.44. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.99 and a quick ratio of 1.99.

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

Insider Buying and Selling at Eventbrite

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

Institutional Investors Weigh In On Eventbrite

A number of hedge funds have recently modified their holdings of the business. J.P. Morgan Private Wealth Advisors LLC raised its position in shares of Eventbrite by 4.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock valued at $308,000 after buying an additional 1,271 shares during the last quarter. Covestor Ltd increased its position in Eventbrite by 217.7% during the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock worth $27,000 after purchasing an additional 1,907 shares during the last quarter. BNP Paribas Financial Markets increased its position in Eventbrite by 3.5% during the fourth quarter. BNP Paribas Financial Markets now owns 71,858 shares of the company’s stock worth $601,000 after purchasing an additional 2,425 shares during the last quarter. Swiss National Bank increased its position in Eventbrite by 1.5% during the third quarter. Swiss National Bank now owns 181,000 shares of the company’s stock worth $1,785,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in Eventbrite by 18.2% during the fourth quarter. Legato Capital Management LLC now owns 20,442 shares of the company’s stock worth $171,000 after purchasing an additional 3,141 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

About Eventbrite

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.