Eventbrite (NYSE:EB) PT Lowered to $6.50 at Morgan Stanley

Eventbrite (NYSE:EB) had its target price decreased by Morgan Stanley from $9.00 to $6.50 in a research note published on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts also recently weighed in on EB. Truist Financial dropped their target price on Eventbrite from $17.00 to $11.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Piper Sandler lowered their price objective on Eventbrite from $13.00 to $9.00 and set an overweight rating for the company in a research report on Wednesday, February 28th. KeyCorp lowered their price objective on Eventbrite from $13.00 to $6.00 and set an overweight rating for the company in a research report on Tuesday, April 30th. Finally, BWS Financial reissued a buy rating and set a $12.00 price objective on shares of Eventbrite in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $9.93.

Eventbrite Stock Down 0.6 %

Shares of NYSE:EB opened at $4.99 on Tuesday. The company has a market capitalization of $484.58 million, a price-to-earnings ratio of -26.26 and a beta of 2.44. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.95. The business has a 50-day moving average price of $5.42 and a 200 day moving average price of $6.84. Eventbrite has a 12-month low of $4.95 and a 12-month high of $11.90.

Eventbrite (NYSE:EB) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $86.25 million during the quarter, compared to the consensus estimate of $85.26 million. Eventbrite had a negative return on equity of 10.00% and a negative net margin of 5.47%. Sell-side analysts expect that Eventbrite will post -0.15 EPS for the current year.

Insider Buying and Selling

In related news, CFO Charles Baker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the completion of the sale, the chief financial officer now owns 357,839 shares in the company, valued at $1,975,271.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eventbrite

Large investors have recently modified their holdings of the stock. Covestor Ltd grew its position in Eventbrite by 217.7% in the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after buying an additional 1,907 shares during the last quarter. Mine & Arao Wealth Creation & Management LLC. purchased a new position in Eventbrite in the 4th quarter valued at $33,000. Principal Financial Group Inc. purchased a new position in Eventbrite in the 1st quarter valued at $58,000. Victory Capital Management Inc. purchased a new stake in shares of Eventbrite during the 4th quarter worth $89,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Eventbrite during the 3rd quarter worth $108,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.