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

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

Other equities analysts have also issued research reports about the company. KeyCorp lowered their target price on Eventbrite from $13.00 to $6.00 and set an overweight rating on the stock in a research note on Tuesday, April 30th. BWS Financial reissued a buy rating and set a $12.00 price target on shares of Eventbrite in a research report on Friday, May 3rd. Truist Financial reduced their price target on Eventbrite from $17.00 to $11.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. Finally, Piper Sandler reduced their price target on 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 currently has an average rating of Moderate Buy and a consensus price target of $9.93.

Eventbrite Price Performance

NYSE:EB opened at $4.99 on Tuesday. The firm 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 quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. Eventbrite has a 12-month low of $4.95 and a 12-month high of $11.90. The stock’s 50 day moving average price is $5.42 and its two-hundred day moving average price is $6.84.

Eventbrite (NYSE:EB) last announced its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $86.25 million for the quarter, compared to analyst estimates of $85.26 million. Eventbrite had a negative return on equity of 10.00% and a negative net margin of 5.47%. On average, analysts anticipate that Eventbrite will post -0.15 earnings per share for the current year.

Insider Buying and Selling at Eventbrite

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

Institutional Investors Weigh In On Eventbrite

A number of large investors have recently modified their holdings of EB. Covestor Ltd boosted its holdings in shares of Eventbrite by 217.7% during the 3rd quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after acquiring an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. acquired a new stake in shares of Eventbrite during the 4th quarter valued at $33,000. Principal Financial Group Inc. acquired a new stake in shares of Eventbrite during the 1st quarter valued at $58,000. Quadrature Capital Ltd acquired a new stake in shares of Eventbrite during the 1st quarter valued at $64,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Eventbrite during the 1st quarter valued at $70,000. Institutional investors and hedge funds own 91.64% of the company’s stock.

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.