Eventbrite (NYSE:EB) Trading 2.3% Higher - Here's Why

Shares of Eventbrite, Inc. (NYSE:EB - Get Free Report) traded up 2.3% during mid-day trading on Thursday . The company traded as high as $2.69 and last traded at $2.68. 357,408 shares traded hands during trading, a decline of 73% from the average session volume of 1,309,672 shares. The stock had previously closed at $2.62.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "buy" rating and set a $7.00 price objective on shares of Eventbrite in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Eventbrite presently has a consensus rating of "Hold" and a consensus price target of $4.83.

Eventbrite Stock Up 2.3%

The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $253.61 million, a P/E ratio of -14.11 and a beta of 2.07. The stock's fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $2.69.

Eventbrite (NYSE:EB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.01. Eventbrite had a negative net margin of 5.66% and a negative return on equity of 10.12%. The firm had revenue of $73.83 million for the quarter, compared to analyst estimates of $72.88 million. As a group, research analysts expect that Eventbrite, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Eventbrite

A number of institutional investors have recently modified their holdings of EB. Bank of New York Mellon Corp boosted its stake in shares of Eventbrite by 2.4% in the 4th quarter. Bank of New York Mellon Corp now owns 227,548 shares of the company's stock valued at $765,000 after purchasing an additional 5,359 shares during the last quarter. US Bancorp DE boosted its stake in shares of Eventbrite by 53.9% in the 4th quarter. US Bancorp DE now owns 40,011 shares of the company's stock valued at $134,000 after purchasing an additional 14,007 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Eventbrite by 48.8% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 708,386 shares of the company's stock valued at $2,380,000 after purchasing an additional 232,353 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Eventbrite by 26.6% in the 4th quarter. Intech Investment Management LLC now owns 32,601 shares of the company's stock valued at $110,000 after purchasing an additional 6,842 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Eventbrite during the 4th quarter valued at $67,000. 91.64% of the stock is owned by 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.

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