Eventbrite (NYSE:EB) Earns “Buy” Rating from BWS Financial

Eventbrite (NYSE:EB)‘s stock had its “buy” rating reissued by equities researchers at BWS Financial in a report released on Wednesday,Benzinga reports. They currently have a $7.00 price objective on the stock. BWS Financial’s target price would indicate a potential upside of 85.92% from the stock’s current price.

EB has been the topic of several other research reports. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a research report on Friday, August 9th. B. Riley cut their target price on Eventbrite from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial lowered shares of Eventbrite from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Piper Sandler downgraded shares of Eventbrite from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $9.00 to $4.00 in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Eventbrite has a consensus rating of “Hold” and an average price target of $6.58.

Eventbrite Price Performance

Shares of EB stock opened at $3.77 on Wednesday. The company has a market capitalization of $361.82 million, a P/E ratio of -41.83 and a beta of 2.29. The company’s 50-day simple moving average is $3.01 and its two-hundred day simple moving average is $4.05. Eventbrite has a one year low of $2.51 and a one year high of $9.20. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56.

Insider Activity at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction that occurred 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 $1,903,300.56. This represents a 3.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Vivek Sagi sold 75,000 shares of the 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 transaction, the chief technology officer now owns 495,464 shares in the company, valued at $1,704,396.16. This trade represents a 13.15 % decrease in their position. The disclosure for this sale can be found here. 21.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new stake in shares of Eventbrite in the third quarter valued at about $25,000. Quadrature Capital Ltd purchased a new stake in Eventbrite during the 1st quarter valued at about $64,000. Harbor Capital Advisors Inc. raised its holdings in Eventbrite by 54.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company’s stock valued at $64,000 after acquiring an additional 8,307 shares during the last quarter. Intech Investment Management LLC purchased a new position in Eventbrite in the 3rd quarter worth approximately $70,000. Finally, US Bancorp DE boosted its holdings in shares of Eventbrite by 327.3% during the 3rd quarter. US Bancorp DE now owns 26,004 shares of the company’s stock worth $71,000 after purchasing an additional 19,919 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other 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.