Eventbrite (NYSE:EB) Given New $6.00 Price Target at KeyCorp

Eventbrite (NYSE:EB - Get Free Report) had its target price decreased by research analysts at KeyCorp from $13.00 to $6.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 13.64% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Truist Financial dropped their target price on Eventbrite from $17.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, February 28th. Morgan Stanley cut their price objective on Eventbrite from $11.00 to $9.00 and set an "equal weight" rating for the company in a report on Wednesday, February 28th. Finally, Piper Sandler lowered their target price on Eventbrite from $13.00 to $9.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.29.

Eventbrite Price Performance

EB stock traded down $0.10 during trading on Tuesday, hitting $5.28. The company had a trading volume of 1,368,068 shares, compared to its average volume of 1,702,129. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. The company has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $7.23. Eventbrite has a fifty-two week low of $5.00 and a fifty-two week high of $11.90. The company has a market cap of $537.87 million, a P/E ratio of -19.93 and a beta of 2.51.

Eventbrite (NYSE:EB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $87.76 million for the quarter, compared to analysts' expectations of $88.45 million. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. Equities research analysts expect that Eventbrite will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the completion of the transaction, the chief financial officer now directly owns 357,839 shares in the company, valued at $1,975,271.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 17.28% of the company's stock.

Institutional Trading of Eventbrite

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd raised its holdings in Eventbrite by 217.7% in the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company's stock worth $27,000 after purchasing an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. purchased a new position in Eventbrite during the 4th quarter valued at about $33,000. Principal Financial Group Inc. purchased a new stake in Eventbrite in the first quarter worth about $58,000. Victory Capital Management Inc. bought a new position in shares of Eventbrite during the fourth quarter valued at approximately $89,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Eventbrite in the 4th quarter worth approximately $102,000. Institutional investors 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.