Eventbrite (NYSE:EB) Given New $6.00 Price Target at KeyCorp

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

A number of other brokerages also recently commented on EB. Morgan Stanley reduced their target price on shares of Eventbrite from $11.00 to $9.00 and set an equal weight rating for the company in a report on Wednesday, February 28th. Truist Financial decreased their target price on shares of 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 target 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $10.29.

Eventbrite Stock Performance

Shares of NYSE:EB opened at $5.28 on Tuesday. Eventbrite has a 12 month low of $5.00 and a 12 month 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 company has a market capitalization of $537.87 million, a price-to-earnings ratio of -19.56 and a beta of 2.51. The firm’s 50-day moving average is $5.80 and its 200 day moving average is $7.23.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $87.76 million during the quarter, compared to the consensus estimate of $88.45 million. Eventbrite had a negative return on equity of 14.87% and a negative net margin of 8.12%. Research analysts predict that Eventbrite will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $5.52, for a total transaction of $110,400.00. Following the completion of the transaction, the chief financial officer now directly owns 357,839 shares of the company’s stock, valued at approximately $1,975,271.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.28% of the company’s stock.

Hedge Funds Weigh In On Eventbrite

Several institutional investors and hedge funds have recently modified their holdings of EB. Covestor Ltd lifted its holdings in Eventbrite by 217.7% during the third quarter. Covestor Ltd now owns 2,783 shares of the company’s stock valued at $27,000 after purchasing an additional 1,907 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. acquired a new position in shares of Eventbrite during the 4th quarter worth about $33,000. Principal Financial Group Inc. purchased a new position in Eventbrite in the 1st quarter valued at about $58,000. Victory Capital Management Inc. acquired a new stake in Eventbrite in the 4th quarter worth about $89,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Eventbrite in the 4th quarter worth about $102,000. Hedge funds and other institutional investors own 91.64% of the company’s stock.

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.