Eventbrite (NYSE:EB) Given New $5.00 Price Target at B. Riley

Eventbrite (NYSE:EB) had its target price decreased by investment analysts at B. Riley from $10.00 to $5.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price target suggests a potential upside of 64.47% from the stock’s previous close.

EB has been the topic of several other reports. Piper Sandler lowered shares of Eventbrite from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $9.00 to $4.00 in a research report on Friday. KeyCorp cut Eventbrite from an “overweight” rating to a “sector weight” rating in a report on Friday. Truist Financial cut Eventbrite from a “buy” rating to a “hold” rating in a report on Friday. BWS Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Eventbrite in a report on Wednesday, July 17th. Finally, Morgan Stanley lowered their price objective on Eventbrite from $9.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Eventbrite currently has a consensus rating of “Hold” and a consensus price target of $7.42.

Eventbrite Stock Performance

Shares of EB stock traded down $0.76 during trading on Friday, reaching $3.04. 5,830,448 shares of the company’s stock were exchanged, compared to its average volume of 1,761,641. Eventbrite has a twelve month low of $2.51 and a twelve month high of $11.33. The firm’s fifty day moving average price is $4.86 and its 200-day moving average price is $5.79. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $295.23 million, a PE ratio of -15.63 and a beta of 2.34.

Institutional Trading of Eventbrite

A number of institutional investors have recently modified their holdings of the stock. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Eventbrite in the fourth quarter worth $33,000. Principal Financial Group Inc. acquired a new stake in Eventbrite during the first quarter worth about $58,000. Quadrature Capital Ltd bought a new position in Eventbrite in the 1st quarter valued at about $64,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Eventbrite in the 1st quarter valued at approximately $70,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Eventbrite during the 4th quarter worth approximately $89,000. 91.64% of the stock is currently owned by 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.