Analysts Set Eventbrite, Inc. (NYSE:EB) Target Price at $6.58

by · The Markets Daily

Shares of Eventbrite, Inc. (NYSE:EB – Get Free Report) have been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two 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 $6.58.

Several equities research analysts recently weighed in on EB shares. BWS Financial reissued a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a report on Friday, August 9th. Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $4.00 in a research report on Friday, August 9th. Truist Financial downgraded shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. B. Riley lowered their target price on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, KeyCorp lowered Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th.

Get Our Latest Analysis on Eventbrite

Insider Activity

In other news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares in the company, valued at approximately $1,903,300.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Charles Baker sold 20,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.03, for a total value of $60,600.00. Following the transaction, the chief financial officer now owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total transaction of $258,000.00. Following the sale, the chief technology officer now owns 495,464 shares in the company, valued at approximately $1,704,396.16. The disclosure for this sale can be found here. Company insiders own 21.46% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. boosted its holdings in Eventbrite by 47.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after acquiring an additional 1,700,600 shares during the period. Nantahala Capital Management LLC purchased a new stake in Eventbrite during the 2nd quarter valued at $7,744,000. Acadian Asset Management LLC grew its holdings in Eventbrite by 125.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock worth $9,573,000 after acquiring an additional 1,102,809 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Eventbrite by 674.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock worth $5,339,000 after purchasing an additional 848,461 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Eventbrite by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after buying an additional 710,548 shares during the last quarter. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

Eventbrite Stock Up 2.2 %

Eventbrite stock opened at $2.78 on Friday. The firm has a 50 day moving average price of $3.56 and a 200-day moving average price of $4.63. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. Eventbrite has a twelve month low of $2.51 and a twelve month high of $9.96. The company has a market capitalization of $269.98 million, a P/E ratio of -14.63 and a beta of 2.33.

Eventbrite (NYSE:EB – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $84.55 million during the quarter, compared to the consensus estimate of $86.15 million. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. During the same period last year, the business posted ($0.03) earnings per share. As a group, equities analysts predict that Eventbrite will post -0.24 EPS for the current year.

Eventbrite Company Profile

(Get Free Report

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.

Featured Articles