Eventbrite (NYSE:EB) Rating Reiterated by BWS Financial

BWS Financial reissued their buy rating on shares of Eventbrite (NYSE:EB) in a report published on Thursday, Benzinga reports. The firm currently has a $7.00 target price on the stock.

A number of other research firms have also recently commented on EB. Piper Sandler cut shares of Eventbrite from an overweight rating to a neutral rating and reduced their target price for the stock from $9.00 to $4.00 in a research report on Friday, August 9th. Truist Financial lowered 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 Eventbrite from $10.00 to $5.00 and set a buy rating for the company in a research note 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $6.58.

Eventbrite Trading Down 1.1 %

Shares of EB opened at $2.76 on Thursday. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.63. The stock’s 50-day moving average is $3.27 and its two-hundred day moving average is $4.52. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $268.04 million, a PE ratio of -14.53 and a beta of 2.32.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The firm had revenue of $84.55 million for 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 company posted ($0.03) EPS. Equities analysts forecast that Eventbrite will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Eventbrite

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

Hedge Funds Weigh In On Eventbrite

Several institutional investors have recently made changes to their positions in the stock. Intrinsic Edge Capital Management LLC bought a new position in shares of Eventbrite during the fourth quarter worth about $1,467,000. Wellington Management Group LLP boosted its position in shares of Eventbrite by 19.2% during the fourth 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 period. Pinnacle Associates Ltd. bought a new position in Eventbrite in the 1st quarter worth approximately $1,065,000. Principal Financial Group Inc. acquired a new stake in Eventbrite in the 1st quarter valued at approximately $58,000. Finally, BNP Paribas Financial Markets raised its stake in Eventbrite by 169.7% during the 1st quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock valued at $1,062,000 after acquiring an additional 121,966 shares in the last quarter. 91.64% of the stock is owned by institutional investors.

Eventbrite Company Profile

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.