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

Eventbrite (NYSE:EB) had its price objective lowered by equities researchers at KeyCorp from $13.00 to $6.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 11.84% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Truist Financial lowered their target price on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Piper Sandler lowered their target price on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley lowered their target price on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.29.

Eventbrite Stock Performance

Shares of Eventbrite stock opened at $5.37 on Tuesday. The firm has a market capitalization of $546.53 million, a P/E ratio of -19.87 and a beta of 2.51. Eventbrite has a 52 week low of $5.00 and a 52 week high of $11.90. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.87. The firm’s 50 day moving average is $5.73 and its two-hundred day moving average is $7.21.

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

Insider Activity at Eventbrite

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction on Friday, March 15th. The shares were sold at an average price of $5.52, for a total value of $110,400.00. Following the transaction, the chief financial officer now directly owns 357,839 shares in the company, valued at approximately $1,975,271.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eventbrite

A number of hedge funds and other institutional investors have recently bought and sold shares of EB. Deepwater Asset Management LLC lifted its holdings in Eventbrite by 590.2% in the third quarter. Deepwater Asset Management LLC now owns 499,059 shares of the company’s stock valued at $4,921,000 after acquiring an additional 426,748 shares during the period. Rice Hall James & Associates LLC lifted its holdings in Eventbrite by 12.4% in the third quarter. Rice Hall James & Associates LLC now owns 1,623,425 shares of the company’s stock valued at $16,007,000 after acquiring an additional 178,475 shares during the period. AlpInvest Partners B.V. acquired a new stake in Eventbrite in the third quarter valued at $382,000. Capula Management Ltd acquired a new stake in Eventbrite in the third quarter valued at $916,000. Finally, J.P. Morgan Private Wealth Advisors LLC lifted its holdings in Eventbrite by 4.2% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 31,202 shares of the company’s stock valued at $308,000 after acquiring an additional 1,271 shares during the period. 91.64% of the stock is currently owned by hedge funds and other institutional investors.

About Eventbrite

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.