Eventbrite, Inc. (NYSE:EB) Receives $6.58 Average Target Price from Analysts

Shares of Eventbrite, Inc. (NYSE:EB) have been given an average rating of “Hold” by the six analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.58.

Several research firms have recently commented on EB. B. Riley lowered their price target on shares of Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BWS Financial reissued a “buy” rating and set a $7.00 price target on shares of Eventbrite in a research note on Thursday, October 3rd. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and lowered their price objective 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 research note on Friday, August 9th. Finally, KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th.

Insider Buying and Selling at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the firm’s 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 directly owns 628,152 shares in the company, valued at $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the transaction, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at $1,903,300.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $3.44, for a total value of $258,000.00. Following the completion of the sale, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.46% of the stock is owned by corporate insiders.

Institutional Trading of Eventbrite

Several institutional investors have recently added to or reduced their stakes in EB. Principal Financial Group Inc. bought a new stake in Eventbrite in the 1st quarter valued at about $58,000. Quadrature Capital Ltd acquired a new stake in Eventbrite during the first quarter valued at approximately $64,000. ANTIPODES PARTNERS Ltd bought a new stake in Eventbrite during the first quarter worth approximately $70,000. Public Employees Retirement System of Ohio acquired a new position in Eventbrite in the first quarter worth approximately $102,000. Finally, Entropy Technologies LP acquired a new stake in shares of Eventbrite during the first quarter worth $115,000. Institutional investors own 91.64% of the company’s stock.

Eventbrite Stock Performance

Shares of EB stock opened at $2.90 on Thursday. The company has a market cap of $281.15 million, a price-to-earnings ratio of -15.24 and a beta of 2.32. Eventbrite has a 12-month low of $2.51 and a 12-month high of $9.20. The stock has a 50 day simple moving average of $2.96 and a 200-day simple moving average of $4.30. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 2.04.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The business had revenue of $84.55 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.03) EPS. On average, equities analysts forecast that Eventbrite will post -0.24 EPS for the current year.

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.