B. Riley Issues Optimistic Estimate for Eventbrite Earnings

Eventbrite, Inc. (NYSE:EB - Free Report) - Research analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of Eventbrite in a note issued to investors on Monday, November 11th. B. Riley analyst N. Khan now forecasts that the company will post earnings per share of ($0.10) for the year, up from their prior estimate of ($0.16). B. Riley currently has a "Buy" rating and a $5.00 target price on the stock. The consensus estimate for Eventbrite's current full-year earnings is ($0.20) per share. B. Riley also issued estimates for Eventbrite's Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.05) EPS, Q3 2025 earnings at $0.02 EPS, FY2025 earnings at $0.01 EPS and FY2026 earnings at $0.62 EPS.

Several other research firms have also issued reports on EB. BWS Financial reaffirmed a "buy" rating and set a $7.00 price objective on shares of Eventbrite in a research note on Wednesday. Truist Financial cut Eventbrite from a "buy" rating to a "hold" rating in a research note on Friday, August 9th. KeyCorp cut shares of Eventbrite from an "overweight" rating to a "sector weight" rating in a report on Friday, August 9th. Finally, Piper Sandler lowered shares of Eventbrite from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $9.00 to $4.00 in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Eventbrite currently has an average rating of "Hold" and an average target price of $6.58.

Eventbrite Price Performance

NYSE EB traded up $0.12 on Thursday, reaching $3.71. 1,107,059 shares of the company's stock traded hands, compared to its average volume of 1,762,952. The stock has a market cap of $356.53 million, a PE ratio of -39.94 and a beta of 2.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.56 and a quick ratio of 1.56. Eventbrite has a 12 month low of $2.51 and a 12 month high of $9.20. The stock has a 50-day simple moving average of $3.00 and a 200 day simple moving average of $4.05.

Institutional Trading of Eventbrite

A number of hedge funds have recently made changes to their positions in EB. Quantbot Technologies LP bought a new stake in shares of Eventbrite during the third quarter valued at approximately $25,000. Quadrature Capital Ltd bought a new stake in shares of Eventbrite in the first quarter worth $64,000. Harbor Capital Advisors Inc. increased its position in Eventbrite by 54.8% during the third quarter. Harbor Capital Advisors Inc. now owns 23,477 shares of the company's stock valued at $64,000 after acquiring an additional 8,307 shares during the last quarter. Intech Investment Management LLC bought a new position in Eventbrite in the third quarter valued at about $70,000. Finally, US Bancorp DE boosted its position in Eventbrite by 327.3% in the third quarter. US Bancorp DE now owns 26,004 shares of the company's stock worth $71,000 after purchasing an additional 19,919 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the transaction, the chief financial officer now owns 628,152 shares in the company, valued at approximately $1,903,300.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eventbrite news, CFO Charles Baker sold 20,000 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the transaction, the chief financial officer now owns 628,152 shares of the company's stock, valued at approximately $1,903,300.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Vivek Sagi sold 75,000 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $3.44, for a total transaction of $258,000.00. Following the completion of the sale, the chief technology officer now directly owns 495,464 shares in the company, valued at $1,704,396.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.46% 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.