BWS Financial Reaffirms “Buy” Rating for Eventbrite (NYSE:EB)

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

A number of other brokerages have also issued reports on EB. Piper Sandler cut their price target 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. Morgan Stanley reduced their price objective on Eventbrite from $11.00 to $9.00 and set an equal weight rating for the company in a research note on Wednesday, February 28th. KeyCorp dropped their target price on Eventbrite from $13.00 to $6.00 and set an overweight rating on the stock in a research report on Tuesday, April 30th. Finally, Truist Financial reduced their price target on shares of Eventbrite from $17.00 to $11.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Eventbrite currently has an average rating of Moderate Buy and a consensus price target of $10.29.

Eventbrite Price Performance

Eventbrite stock opened at $5.51 on Friday. The firm has a 50-day moving average of $5.56 and a two-hundred day moving average of $7.14. Eventbrite has a 1 year low of $5.00 and a 1 year high of $11.90. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.86 and a quick ratio of 1.86.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%. The business had revenue of $87.76 million during the quarter, compared to analyst estimates of $88.45 million. Equities analysts anticipate that Eventbrite will post -0.15 EPS for the current fiscal year.

Insider Activity

In other news, CFO Charles Baker sold 20,000 shares of the firm’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 sale, the chief financial officer now directly owns 357,839 shares in the company, valued at approximately $1,975,271.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EB. Vanguard Group Inc. increased its stake in shares of Eventbrite by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,901,768 shares of the company’s stock worth $77,911,000 after acquiring an additional 49,892 shares during the last quarter. Wellington Management Group LLP lifted its stake in Eventbrite by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after purchasing an additional 710,548 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Eventbrite by 55.7% in the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock valued at $40,524,000 after buying an additional 1,470,551 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Eventbrite by 33.4% in the 3rd quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock valued at $35,497,000 after buying an additional 900,925 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in Eventbrite by 54.5% during the 4th 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. 91.64% of the stock is 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.