Eventbrite (NYSE:EB) Given “Buy” Rating at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Eventbrite (NYSE:EB) in a report published on Friday morning, Benzinga reports. They currently have a $12.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Piper Sandler reduced their price target on Eventbrite from $13.00 to $9.00 and set an overweight rating on the stock in a report on Wednesday, February 28th. KeyCorp reduced their target price on Eventbrite from $13.00 to $6.00 and set an overweight rating on the stock in a research note on Tuesday. Truist Financial decreased their target price on Eventbrite from $17.00 to $11.00 and set a buy rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley cut their price target on shares of Eventbrite from $11.00 to $9.00 and set an equal weight rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $10.29.

Eventbrite Trading Down 0.7 %

Shares of NYSE:EB traded down $0.04 during trading on Friday, reaching $5.51. 3,221,580 shares of the company traded hands, compared to its average volume of 1,616,362. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. Eventbrite has a 52-week low of $5.00 and a 52-week high of $11.90. The business’s fifty day moving average is $5.56 and its 200-day moving average is $7.16. The firm has a market capitalization of $561.29 million, a price-to-earnings ratio of -29.00 and a beta of 2.44.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The business had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.02%. As a group, analysts forecast that Eventbrite will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $5.52, for a total transaction of $110,400.00. Following the sale, the chief financial officer now owns 357,839 shares in the company, valued at approximately $1,975,271.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 17.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eventbrite

Large investors have recently made changes to their positions in the business. Covestor Ltd increased its holdings in shares of Eventbrite by 217.7% during the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after acquiring an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Eventbrite during the 4th quarter valued at about $33,000. Principal Financial Group Inc. bought a new stake in Eventbrite during the 1st quarter valued at about $58,000. Victory Capital Management Inc. purchased a new position in Eventbrite in the fourth quarter worth about $89,000. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Eventbrite in the fourth quarter worth approximately $102,000. 91.64% of the stock is currently owned by hedge funds and other 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.