Eventbrite’s (EB) “Buy” Rating Reaffirmed at BWS Financial

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

A number of other research analysts have also recently commented on EB. Truist Financial dropped their target price on shares of Eventbrite from $17.00 to $11.00 and set a buy rating for the company in a report on Wednesday, February 28th. Piper Sandler decreased their target price on shares of Eventbrite from $13.00 to $9.00 and set an overweight rating on the stock in a research note on Wednesday, February 28th. KeyCorp cut their price objective on Eventbrite from $13.00 to $6.00 and set an overweight rating on the stock in a report on Tuesday. Finally, Morgan Stanley lowered their target price on Eventbrite from $11.00 to $9.00 and set an equal weight rating for the company in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $10.29.

Eventbrite Price Performance

Shares of NYSE:EB traded down $0.04 during midday trading on Friday, hitting $5.51. The stock had a trading volume of 3,221,580 shares, compared to its average volume of 1,616,362. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $561.29 million, a P/E ratio of -29.00 and a beta of 2.44. The company’s 50-day moving average price is $5.56 and its 200-day moving average price is $7.16. Eventbrite has a fifty-two week low of $5.00 and a fifty-two week high of $11.90.

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

Insider Transactions at Eventbrite

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. J.P. Morgan Private Wealth Advisors LLC increased its stake in Eventbrite by 4.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock valued at $308,000 after purchasing an additional 1,271 shares in the last quarter. Covestor Ltd increased its position in Eventbrite by 217.7% in the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after buying an additional 1,907 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Eventbrite by 3.5% in the fourth quarter. BNP Paribas Financial Markets now owns 71,858 shares of the company’s stock valued at $601,000 after acquiring an additional 2,425 shares during the period. Swiss National Bank increased its holdings in shares of Eventbrite by 1.5% during the third quarter. Swiss National Bank now owns 181,000 shares of the company’s stock valued at $1,785,000 after acquiring an additional 2,600 shares in the last quarter. Finally, Legato Capital Management LLC raised its position in shares of Eventbrite by 18.2% during the fourth quarter. Legato Capital Management LLC now owns 20,442 shares of the company’s stock worth $171,000 after purchasing an additional 3,141 shares during the period. Institutional investors and hedge funds 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.