Eventbrite, Inc. (NYSE:EB) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Eventbrite, Inc. (NYSE:EB) have been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $6.58.

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

Eventbrite Price Performance

NYSE:EB opened at $2.81 on Friday. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.96. The stock has a 50 day moving average of $3.52 and a two-hundred day moving average of $4.61. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.04. The firm has a market cap of $272.89 million, a P/E ratio of -14.79 and a beta of 2.33.

Eventbrite (NYSE:EB) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $84.55 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned ($0.03) EPS. On average, analysts expect that Eventbrite will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Eventbrite

Hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in shares of Eventbrite in the first quarter valued at $58,000. Quadrature Capital Ltd acquired a new stake in shares of Eventbrite in the first quarter valued at $64,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Eventbrite in the first quarter valued at $70,000. Victory Capital Management Inc. acquired a new stake in shares of Eventbrite in the fourth quarter valued at $89,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Eventbrite in the first quarter valued at $102,000. 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.