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

Eventbrite (NYSE:EB) had its target price trimmed by KeyCorp from $13.00 to $6.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently weighed in on EB. Piper Sandler reduced their target price on shares of Eventbrite from $13.00 to $9.00 and set an overweight rating on the stock in a report on Wednesday, February 28th. Morgan Stanley decreased their price objective on shares of Eventbrite from $11.00 to $9.00 and set an equal weight rating for the company in a research report on Wednesday, February 28th. Finally, Truist Financial dropped their target price on Eventbrite from $17.00 to $11.00 and set a buy rating on the stock in a report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $10.29.

Eventbrite Trading Down 0.9 %

NYSE EB traded down $0.05 during trading hours on Tuesday, reaching $5.50. The company had a trading volume of 3,221,580 shares, compared to its average volume of 1,730,542. The stock has a 50-day moving average of $5.62 and a 200 day moving average of $7.18. Eventbrite has a 1-year low of $5.00 and a 1-year high of $11.90. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $560.29 million, a P/E ratio of -21.63 and a beta of 2.44.

Eventbrite (NYSE:EB) last posted its earnings results on Tuesday, February 27th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $87.76 million for 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%. As a group, research analysts anticipate that Eventbrite will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Charles Baker sold 20,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $5.52, for a total transaction of $110,400.00. Following the transaction, the chief financial officer now owns 357,839 shares of the company’s stock, valued at $1,975,271.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 17.28% of the company’s stock.

Institutional Trading of Eventbrite

A number of institutional investors have recently bought and sold shares of EB. Vanguard Group Inc. lifted its position in shares of Eventbrite by 0.6% in the third quarter. Vanguard Group Inc. now owns 7,901,768 shares of the company’s stock valued at $77,911,000 after acquiring an additional 49,892 shares in the last quarter. Wellington Management Group LLP lifted its position in Eventbrite by 19.2% during the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock worth $36,916,000 after buying an additional 710,548 shares during the period. American Century Companies Inc. lifted its position in Eventbrite by 55.7% during the third quarter. American Century Companies Inc. now owns 4,109,897 shares of the company’s stock worth $40,524,000 after buying an additional 1,470,551 shares during the period. Invesco Ltd. lifted its position in Eventbrite by 33.4% during the third quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after buying an additional 900,925 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Eventbrite by 54.5% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 3,567,300 shares of the company’s stock worth $29,823,000 after buying an additional 1,259,000 shares during the period. 91.64% of the stock is currently owned by hedge funds and other 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.