Eventbrite’s (NYSE:EB) lock-up period will end on Tuesday, March 19th. Eventbrite had issued 10,000,000 shares in its IPO on September 20th. The total size of the offering was $230,000,000 based on an initial share price of $23.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
Several equities research analysts recently commented on the company. Stifel Nicolaus cut Eventbrite from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Wednesday, December 19th. SunTrust Banks cut their price target on Eventbrite to $28.00 and set a “hold” rating for the company in a report on Friday. Finally, Royal Bank of Canada cut their price target on Eventbrite and set an “outperform” rating for the company in a report on Friday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.40.
NYSE:EB opened at $22.89 on Tuesday. Eventbrite has a one year low of $22.36 and a one year high of $40.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.66 and a current ratio of 1.66.
Eventbrite (NYSE:EB) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04). The company had revenue of $75.92 million during the quarter, compared to analysts’ expectations of $72.90 million. On average, sell-side analysts anticipate that Eventbrite will post -1.41 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of EB. Wells Fargo & Company MN purchased a new position in Eventbrite in the third quarter worth approximately $2,786,000. Pendal Group Ltd purchased a new position in Eventbrite in the third quarter worth approximately $189,000. Jennison Associates LLC purchased a new position in Eventbrite in the third quarter worth approximately $3,725,000. Eagle Asset Management Inc. purchased a new position in Eventbrite in the third quarter worth approximately $11,500,000. Finally, Bank of New York Mellon Corp purchased a new position in Eventbrite in the third quarter worth approximately $745,000. Institutional investors own 37.54% of the company’s stock.
Eventbrite, Inc operates as a technology platform worldwide. 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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