Research Analysts Set Expectations for Eventbrite, Inc.’s Q3 2024 Earnings (NYSE:EB)

Eventbrite, Inc. (NYSE:EB) – Analysts at B. Riley raised their Q3 2024 earnings per share (EPS) estimates for shares of Eventbrite in a research note issued to investors on Sunday, May 5th. B. Riley analyst N. Khan now anticipates that the company will post earnings of $0.01 per share for the quarter, up from their prior forecast of ($0.01). The consensus estimate for Eventbrite’s current full-year earnings is ($0.15) per share. B. Riley also issued estimates for Eventbrite’s Q4 2024 earnings at $0.03 EPS, FY2024 earnings at ($0.03) EPS, FY2025 earnings at $0.31 EPS, FY2026 earnings at $0.45 EPS, FY2027 earnings at $0.66 EPS and FY2028 earnings at $1.00 EPS.

Eventbrite (NYSE:EB) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $87.76 million for the quarter, compared to analysts’ expectations of $88.45 million. Eventbrite had a negative net margin of 5.47% and a negative return on equity of 10.00%.

EB has been the topic of several other reports. BWS Financial restated a “buy” rating and issued a $12.00 target price on shares of Eventbrite in a research report on Friday, May 3rd. KeyCorp reduced their price objective on shares of Eventbrite from $13.00 to $6.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Piper Sandler decreased their target price on shares of Eventbrite from $13.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. Truist Financial reduced their price target on shares of Eventbrite from $17.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Finally, Morgan Stanley lowered their price objective on shares of Eventbrite from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.29.

Eventbrite Price Performance

NYSE EB opened at $5.59 on Wednesday. The company has a 50-day moving average price of $5.46 and a two-hundred day moving average price of $7.10. The stock has a market cap of $569.45 million, a price-to-earnings ratio of -29.42 and a beta of 2.44. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.95. Eventbrite has a 52 week low of $5.00 and a 52 week high of $11.90.

Institutional Trading of Eventbrite

A number of hedge funds have recently bought and sold shares of EB. Vanguard Group Inc. raised its holdings in shares of Eventbrite by 0.6% during 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 during the period. Wellington Management Group LLP raised its stake in Eventbrite by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 4,415,760 shares of the company’s stock valued at $36,916,000 after purchasing an additional 710,548 shares during the period. American Century Companies Inc. boosted its position in shares of Eventbrite by 55.7% in 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 stake in Eventbrite by 33.4% in the 3rd quarter. Invesco Ltd. now owns 3,600,139 shares of the company’s stock worth $35,497,000 after acquiring an additional 900,925 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings in shares of 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 purchasing an additional 1,259,000 shares during the period. 91.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction on Friday, March 15th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.28% of the stock is currently owned by company insiders.

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.