Eventbrite (NYSE:EB) Coverage Initiated at William Blair

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William Blair initiated coverage on shares of Eventbrite (NYSE:EB) in a report published on Monday morning, BenzingaRatingsTable reports. The firm issued an outperform rating on the stock.

A number of other brokerages have also recently commented on EB. Stifel Nicolaus reiterated a hold rating and set a $28.00 price target (up from $20.00) on shares of Eventbrite in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Eventbrite from a sell rating to a hold rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada reduced their price target on shares of Eventbrite to $22.00 and set an outperform rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $27.40.

Shares of NYSE EB opened at $16.90 on Monday. Eventbrite has a one year low of $15.30 and a one year high of $40.25. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.37 billion and a price-to-earnings ratio of -11.66.

Eventbrite (NYSE:EB) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The business had revenue of $81.30 million for the quarter, compared to analyst estimates of $82.97 million. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that Eventbrite will post -0.62 EPS for the current fiscal year.

In other news, Director Andrew Dreskin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $18.00, for a total value of $90,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Omer Cohen sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $25.01, for a total transaction of $2,501,000.00. The disclosure for this sale can be found here. Insiders sold 220,372 shares of company stock worth $5,117,613 in the last 90 days. Company insiders own 19.61% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Eventbrite in the third quarter valued at approximately $745,000. BlackRock Inc. lifted its holdings in Eventbrite by 57.4% in the fourth quarter. BlackRock Inc. now owns 796,405 shares of the company’s stock valued at $22,148,000 after buying an additional 290,404 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Eventbrite by 61.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 789,844 shares of the company’s stock valued at $21,966,000 after buying an additional 299,694 shares during the period. Northern Trust Corp acquired a new position in Eventbrite in the fourth quarter valued at approximately $694,000. Finally, Hsbc Holdings PLC acquired a new position in Eventbrite in the fourth quarter valued at approximately $1,391,000. Hedge funds and other institutional investors own 44.46% of the company’s stock.

Eventbrite Company Profile

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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