BWS Financial Reiterates Buy Rating for Eventbrite (NYSE:EB)

Eventbrite (NYSE:EB)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a report issued on Thursday, Benzinga reports. They currently have a $7.00 price target on the stock. BWS Financial’s target price suggests a potential upside of 153.62% from the company’s previous close.

A number of other brokerages also recently issued reports on EB. KeyCorp downgraded shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday, August 9th. Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $9.00 to $4.00 in a research note on Friday, August 9th. Truist Financial lowered Eventbrite from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, B. Riley reduced their price target on Eventbrite from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.58.

Eventbrite Stock Down 1.1 %

EB stock opened at $2.76 on Thursday. The company has a market capitalization of $268.04 million, a P/E ratio of -14.53 and a beta of 2.33. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.63. The firm’s fifty day simple moving average is $3.32 and its 200-day simple moving average is $4.54. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.95 and a quick ratio of 1.95.

Eventbrite (NYSE:EB) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. The company had revenue of $84.55 million for the quarter, compared to analyst estimates of $86.15 million. Eventbrite had a negative net margin of 4.20% and a negative return on equity of 7.82%. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, equities research analysts forecast that Eventbrite will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Charles Baker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.03, for a total value of $60,600.00. Following the transaction, the chief financial officer now owns 628,152 shares in the company, valued at $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the sale, the chief financial officer now owns 628,152 shares of the company’s stock, valued at $1,903,300.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Vivek Sagi sold 75,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the completion of the transaction, the chief technology officer now directly owns 495,464 shares in the company, valued at approximately $1,704,396.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Intrinsic Edge Capital Management LLC purchased a new position in shares of Eventbrite during the 4th quarter worth $1,467,000. Wellington Management Group LLP increased its position 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 during the last quarter. Pinnacle Associates Ltd. purchased a new position in Eventbrite during the first quarter worth about $1,065,000. Principal Financial Group Inc. acquired a new position in Eventbrite in the 1st quarter valued at about $58,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Eventbrite by 169.7% in the 1st quarter. BNP Paribas Financial Markets now owns 193,824 shares of the company’s stock valued at $1,062,000 after buying an additional 121,966 shares during the period. 91.64% of the stock is currently 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.