Eventbrite (NYSE:EB) Price Target Cut to $5.00 by Analysts at B. Riley

Eventbrite (NYSE:EB) had its price objective dropped by investment analysts at B. Riley from $10.00 to $5.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 59.24% from the stock’s previous close.

EB has been the topic of several other research reports. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $4.00 in a research note on Friday. BWS Financial reissued a “buy” rating and issued a $12.00 price target on shares of Eventbrite in a research note on Wednesday, July 17th. KeyCorp downgraded Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday. Morgan Stanley dropped their price target on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Tuesday, May 21st. Finally, Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.58.

Eventbrite Trading Down 17.4 %

Eventbrite stock traded down $0.66 during mid-day trading on Friday, hitting $3.14. 10,986,697 shares of the company’s stock were exchanged, compared to its average volume of 1,795,337. The firm has a market capitalization of $304.94 million, a P/E ratio of -16.53 and a beta of 2.34. Eventbrite has a fifty-two week low of $2.51 and a fifty-two week high of $11.33. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. The company’s 50 day simple moving average is $4.82 and its 200-day simple moving average is $5.74.

Institutional Trading of Eventbrite

A number of hedge funds and other institutional investors have recently modified their holdings of EB. Edmond DE Rothschild Holding S.A. increased its position in shares of Eventbrite by 47.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,267,900 shares of the company’s stock valued at $28,868,000 after acquiring an additional 1,700,600 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Eventbrite by 125.9% in the second quarter. Acadian Asset Management LLC now owns 1,978,823 shares of the company’s stock valued at $9,573,000 after acquiring an additional 1,102,809 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Eventbrite by 674.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after acquiring an additional 848,461 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Eventbrite by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after acquiring an additional 710,548 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new position in Eventbrite during the first quarter worth about $2,192,000. Institutional investors and hedge funds 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.