Eventbrite (NYSE:EB) PT Lowered to $6.00 at KeyCorp

Eventbrite (NYSE:EB) had its price objective cut by KeyCorp from $13.00 to $6.00 in a report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Morgan Stanley dropped 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. Truist Financial dropped their price target on Eventbrite from $17.00 to $11.00 and set a buy rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler reduced their price objective on shares of Eventbrite from $13.00 to $9.00 and set an overweight rating on the stock in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Eventbrite currently has an average rating of Moderate Buy and a consensus target price of $10.29.

Eventbrite Stock Performance

NYSE:EB opened at $5.50 on Tuesday. The stock has a 50-day simple moving average of $5.56 and a two-hundred day simple moving average of $7.16. Eventbrite has a 52-week low of $5.00 and a 52-week high of $11.90. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market capitalization of $560.29 million, a PE ratio of -20.37 and a beta of 2.44.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. The business had revenue of $87.76 million during the quarter, compared to analyst estimates of $88.45 million. Analysts forecast that Eventbrite will post -0.12 EPS for the current year.

Insider Buying and Selling at Eventbrite

In other news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $5.52, for a total value 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 SEC, which is accessible through this link. 17.28% of the stock is currently owned by insiders.

Institutional Trading of Eventbrite

A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in shares of Eventbrite by 1,793.8% in the 1st quarter. GSA Capital Partners LLP now owns 224,109 shares of the company’s stock worth $1,228,000 after buying an additional 212,275 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Eventbrite by 169.7% during the 1st quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock worth $1,062,000 after purchasing an additional 121,966 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Eventbrite during the 1st quarter worth about $58,000. Pinnacle Associates Ltd. purchased a new position in shares of Eventbrite during the 1st quarter worth about $1,065,000. Finally, Horrell Capital Management Inc. purchased a new position in shares of Eventbrite during the 1st quarter worth about $2,192,000. 91.64% of the stock is currently owned by institutional investors.

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.