Zacks: Brokerages Expect Eventbrite Inc (EB) Will Announce Quarterly Sales of $72.90 Million

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Equities research analysts predict that Eventbrite Inc (NYSE:EB) will post $72.90 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Eventbrite’s earnings, with the lowest sales estimate coming in at $72.70 million and the highest estimate coming in at $73.10 million. The company is scheduled to issue its next quarterly earnings results on Monday, February 11th.

On average, analysts expect that Eventbrite will report full-year sales of $288.93 million for the current year, with estimates ranging from $288.40 million to $289.60 million. For the next financial year, analysts forecast that the business will report sales of $363.77 million, with estimates ranging from $361.21 million to $366.70 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Eventbrite.

Eventbrite (NYSE:EB) last released its earnings results on Monday, November 12th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.77). The company had revenue of $73.60 million for the quarter, compared to analyst estimates of $71.66 million. During the same quarter in the previous year, the company earned ($0.61) earnings per share. The business’s revenue was up 45.2% on a year-over-year basis.

Several research firms recently commented on EB. JPMorgan Chase & Co. began coverage on shares of Eventbrite in a report on Monday, October 15th. They issued a “neutral” rating and a $31.00 price target on the stock. Goldman Sachs Group began coverage on shares of Eventbrite in a report on Monday, October 15th. They issued a “neutral” rating and a $28.00 price target on the stock. SunTrust Banks began coverage on shares of Eventbrite in a report on Monday, October 15th. They issued a “hold” rating and a $30.00 price target on the stock. Stifel Nicolaus restated a “buy” rating and issued a $33.00 price target on shares of Eventbrite in a report on Tuesday, November 13th. Finally, Royal Bank of Canada began coverage on shares of Eventbrite in a report on Monday, October 15th. They issued an “outperform” rating and a $37.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Eventbrite presently has a consensus rating of “Hold” and a consensus target price of $31.80.

Shares of EB traded up $1.23 during mid-day trading on Tuesday, hitting $30.24. The company had a trading volume of 232,014 shares, compared to its average volume of 231,308. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.66 and a quick ratio of 1.66. Eventbrite has a 1-year low of $24.67 and a 1-year high of $40.25.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pendal Group Ltd purchased a new stake in shares of Eventbrite during the third quarter valued at approximately $189,000. Point72 Hong Kong Ltd purchased a new stake in shares of Eventbrite during the third quarter valued at approximately $248,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Eventbrite during the third quarter valued at approximately $337,000. Putnam Investments LLC purchased a new stake in shares of Eventbrite during the third quarter valued at approximately $473,000. Finally, Jane Street Group LLC purchased a new stake in shares of Eventbrite during the third quarter valued at approximately $507,000. Hedge funds and other institutional investors own 35.98% of the company’s stock.

Eventbrite Company Profile

Eventbrite, Inc operates as a technology platform worldwide. 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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