According to Zacks, “Eventbrite, Inc. offers a platform which allows users to provide online event planning services, as well as publishes, promotes and sells tickets through social networks and e-mails. Eventbrite, Inc. is based in San Francisco, United States. “
A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada cut their price target on Eventbrite and set an “outperform” rating on the stock in a report on Friday, March 8th. SunTrust Banks cut their price target on Eventbrite to $28.00 and set a “hold” rating on the stock in a report on Friday, March 8th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $28.00 price target (up previously from $20.00) on shares of Eventbrite in a report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $27.40.
Shares of EB traded down $0.01 during mid-day trading on Monday, reaching $17.50. 609,117 shares of the company’s stock traded hands, compared to its average volume of 761,814. The stock has a market cap of $1.41 billion and a PE ratio of -12.07. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.22. Eventbrite has a 12 month low of $15.30 and a 12 month high of $40.25.
Eventbrite (NYSE:EB) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.05). The firm had revenue of $81.30 million during the quarter, compared to the consensus estimate of $82.97 million. The company’s revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that Eventbrite will post -0.62 EPS for the current year.
In related news, insider Samantha Harnett sold 49,372 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $20.95, for a total transaction of $1,034,343.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Growth Capital Fund I, L.P. sold 685,027 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $20.84, for a total value of $14,275,962.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 965,399 shares of company stock worth $20,645,176.
A number of large investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in Eventbrite during the first quarter worth approximately $784,000. Ancient Art L.P. bought a new stake in Eventbrite during the first quarter worth approximately $2,492,000. Park West Asset Management LLC bought a new stake in Eventbrite during the first quarter worth approximately $10,544,000. Caledonia Private Investments Pty Ltd raised its holdings in Eventbrite by 1.4% during the first quarter. Caledonia Private Investments Pty Ltd now owns 254,376 shares of the company’s stock worth $4,876,000 after purchasing an additional 3,527 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in Eventbrite by 15.2% during the first quarter. ArrowMark Colorado Holdings LLC now owns 136,151 shares of the company’s stock worth $2,610,000 after purchasing an additional 17,939 shares in the last quarter. 37.79% of the stock is currently owned by hedge funds and other institutional investors.
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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