Eventbrite's (EB) "Buy" Rating Reiterated at BWS Financial

BWS Financial reissued their buy rating on shares of Eventbrite (NYSE:EB - Free Report) in a report released on Friday, Benzinga reports. The brokerage currently has a $12.00 price target on the stock.

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

Eventbrite Stock Down 0.9 %

NYSE:EB traded down $0.05 on Friday, reaching $5.50. The stock had a trading volume of 3,221,580 shares, compared to its average volume of 1,730,542. 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 50-day moving average of $5.62 and a 200 day moving average of $7.18. The stock has a market cap of $560.29 million, a P/E ratio of -21.63 and a beta of 2.44. Eventbrite has a 12-month low of $5.00 and a 12-month high of $11.90.

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

Insider Transactions at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now directly owns 357,839 shares in the company, valued at $1,975,271.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eventbrite

Several hedge funds have recently bought and sold shares of EB. American Century Companies Inc. increased its position in shares of Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company's stock worth $40,524,000 after acquiring an additional 1,470,551 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Eventbrite by 54.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company's stock worth $29,823,000 after acquiring an additional 1,259,000 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Eventbrite by 43.1% during the third quarter. Wellington Management Group LLP now owns 3,705,212 shares of the company's stock worth $36,533,000 after acquiring an additional 1,116,749 shares in the last quarter. Invesco Ltd. increased its position in shares of Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company's stock worth $35,497,000 after acquiring an additional 900,925 shares in the last quarter. Finally, Deepwater Asset Management LLC increased its position in shares of Eventbrite by 148.9% during the fourth quarter. Deepwater Asset Management LLC now owns 1,242,083 shares of the company's stock worth $10,384,000 after acquiring an additional 743,024 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.

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.