Eventbrite (NYSE:EB) Stock Price Up 2.3% - What's Next?

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

Analyst Ratings Changes

Separately, BWS Financial reissued a "buy" rating and set a $7.00 price target on shares of Eventbrite in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Eventbrite presently has an average rating of "Hold" and a consensus target price of $4.83.

Eventbrite Stock Down 6.0%

The stock has a 50 day moving average price of $2.46 and a 200 day moving average price of $2.69. The stock has a market capitalization of $236.58 million, a price-to-earnings ratio of -13.16 and a beta of 2.07. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.22.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EB. Charles Schwab Investment Management Inc. increased its position in Eventbrite by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 601,602 shares of the company's stock valued at $1,269,000 after buying an additional 4,260 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Eventbrite by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,076 shares of the company's stock valued at $209,000 after buying an additional 5,114 shares in the last quarter. Bank of New York Mellon Corp increased its position in 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 buying an additional 5,359 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Eventbrite by 52.2% in the 1st quarter. Pallas Capital Advisors LLC now owns 16,928 shares of the company's stock valued at $36,000 after buying an additional 5,803 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in 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 buying an additional 6,842 shares in the last quarter. 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.