Eventbrite (NYSE:EB) Price Target Cut to $5.00

Eventbrite (NYSE:EB) had its price target decreased by B. Riley from $10.00 to $5.00 in a research 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.

Other equities research analysts also recently issued reports about the company. Truist Financial downgraded Eventbrite from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $9.00 to $4.00 in a report on Friday. KeyCorp downgraded Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday. Morgan Stanley dropped their target price on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a report on Tuesday, May 21st. Finally, BWS Financial reiterated a “buy” rating and set a $12.00 target price on shares of Eventbrite in a report on Wednesday, July 17th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.58.

Eventbrite Trading Down 17.4 %

Shares of Eventbrite stock traded down $0.66 during trading hours on Friday, reaching $3.14. The stock had a trading volume of 10,986,697 shares, compared to its average volume of 1,795,337. 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 1 year low of $2.51 and a 1 year high of $11.33. The firm has a market capitalization of $304.94 million, a price-to-earnings ratio of -16.53 and a beta of 2.34. The firm has a 50 day simple moving average of $4.82 and a two-hundred day simple moving average of $5.74.

Institutional Investors Weigh In On Eventbrite

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC increased its holdings in shares of Eventbrite by 125.9% in the 2nd 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. Rhumbline Advisers increased its holdings in shares of Eventbrite by 3.5% in the 2nd quarter. Rhumbline Advisers now owns 112,477 shares of the company’s stock valued at $544,000 after acquiring an additional 3,829 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Eventbrite by 24.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,855 shares of the company’s stock valued at $140,000 after acquiring an additional 5,664 shares during the last quarter. Waypoint Wealth Partners Inc. bought a new stake in shares of Eventbrite in the 2nd quarter valued at approximately $171,000. Finally, SG Americas Securities LLC bought a new stake in shares of Eventbrite in the 2nd quarter valued at approximately $124,000. 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.