Eventbrite’s (EB) “Buy” Rating Reaffirmed at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Eventbrite (NYSE:EB) in a report released on Friday morning, Benzinga reports. BWS Financial currently has a $7.00 target price on the stock.

EB has been the topic of a number of other research reports. Piper Sandler cut Eventbrite from an overweight rating to a neutral rating and decreased their price target for the stock from $9.00 to $4.00 in a research report on Friday. Truist Financial lowered Eventbrite from a buy rating to a hold rating in a research note on Friday. KeyCorp lowered Eventbrite from an overweight rating to a sector weight rating in a research note on Friday. B. Riley reduced their price objective on Eventbrite from $10.00 to $5.00 and set a buy rating on the stock in a research note on Friday. Finally, Morgan Stanley reduced their price objective on Eventbrite from $9.00 to $6.50 and set an equal weight rating on the stock in a research note on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Eventbrite has a consensus rating of Hold and an average target price of $6.58.

Eventbrite Stock Performance

EB stock traded down $0.66 during trading hours on Friday, hitting $3.14. 10,986,697 shares of the stock were exchanged, compared to its average volume of 1,795,337. 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 firm has a market capitalization of $304.94 million, a P/E ratio of -16.53 and a beta of 2.34. The company has a 50-day simple moving average of $4.82 and a two-hundred day simple moving average of $5.74. Eventbrite has a 12 month low of $2.51 and a 12 month high of $11.33.

Institutional Investors Weigh In On Eventbrite

Hedge funds have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. grew its stake in Eventbrite by 47.7% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after purchasing an additional 1,700,600 shares during the period. Wellington Management Group LLP raised its holdings in shares of Eventbrite by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after acquiring an additional 710,548 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Eventbrite by 16.3% in the 1st quarter. Rice Hall James & Associates LLC now owns 2,156,625 shares of the company’s stock valued at $11,818,000 after acquiring an additional 302,912 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Eventbrite by 125.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock valued at $9,573,000 after buying an additional 1,102,809 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Eventbrite by 674.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after buying an additional 848,461 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors.

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.