Eventbrite (NYSE:EB) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Eventbrite (NYSE:EB) from a hold rating to a sell rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “Eventbrite, Inc. offers a platform which allows users to provide online event planning services, as well as publishes, promotes and sells tickets through social networks and e-mails. Eventbrite, Inc. is based in San Francisco, United States. “

EB has been the topic of a number of other reports. SunTrust Banks set a $20.00 price objective on Eventbrite and gave the company a hold rating in a research note on Friday, August 16th. William Blair started coverage on Eventbrite in a research note on Monday, June 17th. They set an outperform rating on the stock. Royal Bank of Canada reduced their price objective on Eventbrite to $22.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $28.00 price objective (up from $20.00) on shares of Eventbrite in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $25.80.

NYSE EB opened at $19.11 on Monday. The stock’s 50-day simple moving average is $17.21 and its two-hundred day simple moving average is $20.55. Eventbrite has a twelve month low of $15.30 and a twelve month high of $40.25. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.64 billion and a price-to-earnings ratio of -13.18.

Eventbrite (NYSE:EB) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. Eventbrite had a negative return on equity of 13.82% and a negative net margin of 23.53%. The business had revenue of $80.80 million for the quarter, compared to the consensus estimate of $76.44 million. The business’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts expect that Eventbrite will post -0.77 earnings per share for the current fiscal year.

In other news, insider Samantha Harnett sold 57,342 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $16.39, for a total transaction of $939,835.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.61% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pearl River Capital LLC bought a new stake in shares of Eventbrite in the first quarter worth about $36,000. Rathbone Brothers plc grew its stake in shares of Eventbrite by 15.4% in the second quarter. Rathbone Brothers plc now owns 15,000 shares of the company’s stock worth $243,000 after purchasing an additional 2,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Eventbrite by 0.5% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 422,600 shares of the company’s stock worth $6,846,000 after purchasing an additional 2,210 shares during the last quarter. NumerixS Investment Technologies Inc grew its stake in shares of Eventbrite by 41.9% in the second quarter. NumerixS Investment Technologies Inc now owns 8,800 shares of the company’s stock worth $143,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Eventbrite by 2,510.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,976 shares of the company’s stock worth $48,000 after purchasing an additional 2,862 shares during the last quarter. 51.54% of the stock is currently owned by institutional investors.

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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