Eventbrite’s (EB) Buy Rating Reaffirmed at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Eventbrite (NYSE:EB) in a research report report published on Wednesday, Benzinga reports. BWS Financial currently has a $12.00 price objective on the stock.

Other analysts have also issued reports about the company. KeyCorp cut their price objective on Eventbrite from $13.00 to $6.00 and set an overweight rating for the company in a report on Tuesday, April 30th. Morgan Stanley cut their price objective on Eventbrite from $9.00 to $6.50 and set an equal weight rating for the company in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $9.93.

Eventbrite Stock Performance

Shares of Eventbrite stock opened at $5.16 on Wednesday. The stock has a market cap of $501.09 million, a PE ratio of -27.16 and a beta of 2.34. The business has a fifty day simple moving average of $4.98 and a 200-day simple moving average of $6.07. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. Eventbrite has a 12 month low of $4.46 and a 12 month high of $11.90.

Eventbrite (NYSE:EB) last issued its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. The business had revenue of $86.25 million during the quarter, compared to analysts’ expectations of $85.26 million. Eventbrite had a negative return on equity of 10.00% and a negative net margin of 5.47%. On average, sell-side analysts anticipate that Eventbrite will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Eventbrite

A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Eventbrite by 43.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company’s stock worth $36,533,000 after acquiring an additional 1,116,749 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Eventbrite by 229.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 119,408 shares of the company’s stock worth $1,177,000 after purchasing an additional 83,208 shares during the last quarter. Vanguard Group Inc. raised its position in Eventbrite by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,901,768 shares of the company’s stock worth $77,911,000 after purchasing an additional 49,892 shares during the last quarter. SG Americas Securities LLC bought a new position in Eventbrite in the 4th quarter worth approximately $128,000. Finally, Legato Capital Management LLC raised its position in Eventbrite by 18.2% in the 4th 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.

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.