Eventbrite (NYSE:EB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
According to Zacks, “Eventbrite, Inc. offers a platform which allows users to provide online event planning services, as well as publishes, promotes and sells tickets through social networks and e-mails. Eventbrite, Inc. is based in San Francisco, United States. “
A number of other equities research analysts also recently commented on EB. Stifel Nicolaus downgraded Eventbrite from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Wednesday, December 19th. SunTrust Banks lowered their price objective on Eventbrite to $28.00 and set a “hold” rating for the company in a research report on Friday, March 8th. Finally, Royal Bank of Canada lowered their price objective on Eventbrite and set an “outperform” rating for the company in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Eventbrite presently has an average rating of “Hold” and a consensus target price of $31.40.
Shares of NYSE EB traded down $0.47 during trading on Friday, reaching $22.55. The company had a trading volume of 765,472 shares, compared to its average volume of 370,724. Eventbrite has a twelve month low of $22.10 and a twelve month high of $40.25. The stock has a market cap of $1.76 billion and a price-to-earnings ratio of -15.55. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.23.
Eventbrite (NYSE:EB) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.04). The firm had revenue of $75.92 million during the quarter, compared to the consensus estimate of $72.90 million. As a group, analysts anticipate that Eventbrite will post -0.24 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc acquired a new position in shares of Eventbrite in the third quarter worth about $26,433,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Eventbrite by 61.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 789,844 shares of the company’s stock worth $21,966,000 after acquiring an additional 299,694 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Eventbrite in the third quarter worth about $5,695,000. Jennison Associates LLC acquired a new position in shares of Eventbrite in the third quarter worth about $3,725,000. Finally, Citadel Advisors LLC acquired a new stake in Eventbrite during the third quarter valued at approximately $1,413,000. Institutional investors and hedge funds own 33.99% of the company’s stock.
Eventbrite Company Profile
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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