Eventbrite Inc (EB) Receives $27.40 Consensus PT from Analysts

Eventbrite Inc (NYSE:EB) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $27.40.

A number of brokerages recently weighed in on EB. Zacks Investment Research upgraded shares of Eventbrite from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Royal Bank of Canada decreased their price target on shares of Eventbrite to $22.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $28.00 price target (up previously from $20.00) on shares of Eventbrite in a research note on Thursday, May 2nd. Finally, SunTrust Banks reiterated a “hold” rating and issued a $28.00 price target on shares of Eventbrite in a research note on Monday, April 29th.

Shares of EB stock opened at $18.98 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.49 billion and a P/E ratio of -13.09. Eventbrite has a fifty-two week low of $15.30 and a fifty-two week high of $40.25.

Eventbrite (NYSE:EB) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $81.30 million for the quarter, compared to analysts’ expectations of $82.97 million. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Eventbrite will post -0.35 EPS for the current year.

In other news, major shareholder Growth Capital Fund I, L.P. sold 685,027 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $20.84, for a total transaction of $14,275,962.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Dreskin sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. The disclosure for this sale can be found here. Insiders sold 955,399 shares of company stock valued at $20,465,176 in the last quarter.

Several large investors have recently modified their holdings of EB. Pearl River Capital LLC purchased a new stake in Eventbrite in the 1st quarter valued at $36,000. Pendal Group Ltd increased its stake in Eventbrite by 86.7% in the 4th quarter. Pendal Group Ltd now owns 9,283 shares of the company’s stock valued at $258,000 after buying an additional 4,312 shares during the period. Parallel Advisors LLC acquired a new position in Eventbrite in the 1st quarter valued at $285,000. Financial Advocates Investment Management increased its stake in Eventbrite by 701.9% in the 4th quarter. Financial Advocates Investment Management now owns 3,400 shares of the company’s stock valued at $297,000 after buying an additional 2,976 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in Eventbrite by 233.2% in the 4th quarter. Sit Investment Associates Inc. now owns 18,075 shares of the company’s stock valued at $503,000 after buying an additional 12,650 shares during the period. Institutional investors and hedge funds own 35.60% of the company’s stock.

About Eventbrite

Eventbrite, Inc operates a ticketing and event technology platform 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, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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Analyst Recommendations for Eventbrite (NYSE:EB)

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