Eventbrite, Inc. (NYSE:EB) Given Average Recommendation of “Hold” by Brokerages

Eventbrite, Inc. (NYSE:EB) has earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four 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 brokerages that have covered the stock in the last year is $6.58.

A number of brokerages have issued reports on EB. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th. BWS Financial restated a “buy” rating and set a $7.00 target price on shares of Eventbrite in a report on Thursday, October 3rd. Truist Financial cut Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, August 9th. B. Riley cut their price objective on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Piper Sandler cut Eventbrite from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $4.00 in a report on Friday, August 9th.

Eventbrite Price Performance

Shares of EB stock opened at $2.95 on Thursday. The stock has a 50-day moving average price of $2.99 and a 200 day moving average price of $4.36. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 2.04. The firm has a market cap of $286.49 million, a price-to-earnings ratio of -15.53 and a beta of 2.32. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.20.

Eventbrite (NYSE:EB) last issued 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. Eventbrite had a negative return on equity of 7.82% and a negative net margin of 4.20%. The firm had revenue of $84.55 million for the quarter, compared to analysts’ expectations of $86.15 million. During the same quarter last year, the business earned ($0.03) earnings per share. Research analysts expect that Eventbrite will post -0.24 EPS for the current year.

Insider Activity

In related news, CTO Vivek Sagi sold 75,000 shares of Eventbrite 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 sale, the chief technology officer now owns 495,464 shares of the company’s stock, valued at approximately $1,704,396.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred 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 sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of Eventbrite stock in a transaction that occurred on 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 in the company, valued at approximately $1,704,396.16. 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 company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EB. Wellington Management Group LLP increased its position in shares of Eventbrite by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after purchasing an additional 710,548 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Eventbrite during the 1st quarter worth approximately $58,000. BNP Paribas Financial Markets increased its position in shares of Eventbrite by 169.7% during the 1st quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock worth $1,062,000 after purchasing an additional 121,966 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Eventbrite by 1,793.8% during the 1st quarter. GSA Capital Partners LLP now owns 224,109 shares of the company’s stock worth $1,228,000 after purchasing an additional 212,275 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Eventbrite during the 1st quarter worth approximately $70,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.