KeyCorp Trims Eventbrite (NYSE:EB) Target Price to $6.00

Eventbrite (NYSE:EB) had its target price reduced by equities research analysts at KeyCorp from $13.00 to $6.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 11.52% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Morgan Stanley decreased their price objective on Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Truist Financial lowered their price target on Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Piper Sandler cut their price objective on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Eventbrite has a consensus rating of “Moderate Buy” and an average target price of $10.29.

Eventbrite Stock Performance

EB stock opened at $5.38 on Tuesday. The firm has a fifty day moving average price of $5.80 and a 200 day moving average price of $7.23. Eventbrite has a fifty-two week low of $5.00 and a fifty-two week high of $11.90. The firm has a market cap of $548.06 million, a PE ratio of -19.93 and a beta of 2.51. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.99 and a current ratio of 1.99.

Eventbrite (NYSE:EB) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $87.76 million during the quarter, compared to analysts’ expectations of $88.45 million. Eventbrite had a negative net margin of 8.12% and a negative return on equity of 14.87%. Sell-side analysts anticipate that Eventbrite will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Eventbrite

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $5.52, for a total value of $110,400.00. Following the completion of the sale, the chief financial officer now directly 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 at this link. Insiders own 17.28% of the company’s stock.

Institutional Investors Weigh In On Eventbrite

A number of large investors have recently made changes to their positions in the stock. Deepwater Asset Management LLC raised its stake in shares of Eventbrite by 590.2% during the 3rd quarter. Deepwater Asset Management LLC now owns 499,059 shares of the company’s stock valued at $4,921,000 after buying an additional 426,748 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Eventbrite by 12.4% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,623,425 shares of the company’s stock worth $16,007,000 after acquiring an additional 178,475 shares in the last quarter. AlpInvest Partners B.V. acquired a new position in shares of Eventbrite during the 3rd quarter worth about $382,000. Capula Management Ltd acquired a new position in shares of Eventbrite during the third quarter valued at approximately $916,000. Finally, J.P. Morgan Private Wealth Advisors LLC raised its stake in Eventbrite by 4.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock valued at $308,000 after purchasing an additional 1,271 shares during the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.

About Eventbrite

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.