Eventbrite Inc (EB) Expected to Announce Earnings of -$0.10 Per Share

Analysts forecast that Eventbrite Inc (NYSE:EB) will report ($0.10) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Eventbrite’s earnings. The lowest EPS estimate is ($0.11) and the highest is ($0.08). The firm is expected to report its next quarterly earnings report on Monday, February 11th.

According to Zacks, analysts expect that Eventbrite will report full-year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.39) to ($0.22). For the next fiscal year, analysts anticipate that the business will report earnings of $0.15 per share, with EPS estimates ranging from $0.08 to $0.21. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Eventbrite.

Eventbrite (NYSE:EB) last issued its earnings results on Monday, November 12th. The company reported ($1.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.77). The firm had revenue of $73.60 million during the quarter, compared to the consensus estimate of $71.66 million. During the same period in the prior year, the company earned ($0.61) EPS. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year.

Several brokerages have recently commented on EB. SunTrust Banks began coverage on Eventbrite in a research note on Monday, October 15th. They set a “hold” rating and a $30.00 target price for the company. Stifel Nicolaus began coverage on Eventbrite in a research note on Monday, October 15th. They set a “buy” rating and a $32.00 target price for the company. JPMorgan Chase & Co. began coverage on Eventbrite in a research note on Monday, October 15th. They set a “neutral” rating and a $31.00 target price for the company. Goldman Sachs Group began coverage on Eventbrite in a research note on Monday, October 15th. They set a “neutral” rating and a $28.00 target price for the company. Finally, Royal Bank of Canada began coverage on Eventbrite in a research note on Monday, October 15th. They set an “outperform” rating and a $37.00 target price for the company. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Eventbrite currently has a consensus rating of “Hold” and an average target price of $31.80.

Shares of NYSE EB traded up $1.23 during midday trading on Friday, hitting $30.24. 232,014 shares of the company’s stock were exchanged, compared to its average volume of 231,308. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.23. Eventbrite has a 12 month low of $24.67 and a 12 month high of $40.25.

Hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC bought a new position in shares of Eventbrite during the 3rd quarter worth approximately $3,725,000. Pendal Group Ltd bought a new stake in Eventbrite in the 3rd quarter valued at $189,000. Partner Fund Management L.P. bought a new stake in Eventbrite in the 3rd quarter valued at $2,219,000. Eagle Asset Management Inc. bought a new stake in Eventbrite in the 3rd quarter valued at $11,500,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in Eventbrite in the 3rd quarter valued at $337,000. Institutional investors own 35.98% of the company’s stock.

About Eventbrite

Eventbrite, Inc operates as a technology platform worldwide. Its platform integrates components needed to plan, promote, and produce live events that allow creators to reduce friction and costs, increase reach, and drive ticket sales. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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