Eventbrite (NYSE:EB) Shares Down 4.3%

Eventbrite, Inc. (NYSE:EB)’s stock price was down 4.3% on Thursday . The stock traded as low as $21.84 and last traded at $22.22. Approximately 25,479 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 1,569,169 shares. The stock had previously closed at $23.21.

Several analysts recently weighed in on EB shares. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $21.00 target price on shares of Eventbrite in a report on Sunday, February 28th. Zacks Investment Research cut shares of Eventbrite from a “buy” rating to a “hold” rating in a report on Friday, February 26th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.33.

The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -8.71 and a beta of 3.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $22.25 and its two-hundred day moving average is $16.84.

Eventbrite (NYSE:EB) last announced its quarterly earnings results on Sunday, February 28th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.16. The company had revenue of $26.66 million for the quarter, compared to analyst estimates of $28.68 million. Eventbrite had a negative net margin of 134.78% and a negative return on equity of 63.75%. Sell-side analysts predict that Eventbrite, Inc. will post -2.68 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC purchased a new position in Eventbrite in the fourth quarter valued at approximately $27,000. Centaurus Financial Inc. purchased a new position in shares of Eventbrite during the fourth quarter worth approximately $122,000. SG Americas Securities LLC purchased a new position in shares of Eventbrite during the fourth quarter worth approximately $160,000. Aperio Group LLC grew its position in shares of Eventbrite by 16.1% during the third quarter. Aperio Group LLC now owns 16,545 shares of the company’s stock worth $180,000 after acquiring an additional 2,293 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Eventbrite during the fourth quarter worth approximately $182,000. Institutional investors own 67.20% of the company’s stock.

About Eventbrite (NYSE:EB)

Eventbrite, Inc operates a self-service ticketing and experience technology platform that serves 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, increase reach, and drive ticket sales.

Further Reading: Systematic Risk and Investors

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