FY2024 Earnings Estimate for Eventbrite Issued By B. Riley

Eventbrite, Inc. (NYSE:EB) – Analysts at B. Riley raised their FY2024 earnings estimates for Eventbrite in a research report issued to clients and investors on Monday, November 11th. B. Riley analyst N. Khan now expects that the company will post earnings per share of ($0.10) for the year, up from their prior forecast of ($0.16). B. Riley has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for Eventbrite’s current full-year earnings is ($0.18) per share. B. Riley also issued estimates for Eventbrite’s Q4 2024 earnings at ($0.03) EPS, Q1 2025 earnings at ($0.05) EPS, Q3 2025 earnings at $0.02 EPS, FY2025 earnings at $0.01 EPS and FY2026 earnings at $0.62 EPS.

EB has been the subject of several other reports. Truist Financial cut shares of Eventbrite from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Piper Sandler downgraded Eventbrite from an “overweight” rating to a “neutral” rating and cut their price target for the company from $9.00 to $4.00 in a research note on Friday, August 9th. KeyCorp lowered shares of Eventbrite from an “overweight” rating to a “sector weight” rating in a research note on Friday, August 9th. Finally, BWS Financial reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Eventbrite in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.58.

Eventbrite Price Performance

Shares of EB opened at $3.51 on Thursday. The business has a 50-day simple moving average of $3.02 and a two-hundred day simple moving average of $4.04. Eventbrite has a 12-month low of $2.51 and a 12-month high of $9.20. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.34. The stock has a market cap of $336.83 million, a PE ratio of -38.94 and a beta of 2.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Nantahala Capital Management LLC acquired a new stake in Eventbrite in the second quarter valued at approximately $7,744,000. Acadian Asset Management LLC raised its stake 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 period. Jacobs Levy Equity Management Inc. grew its stake in shares of Eventbrite by 674.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 974,327 shares of the company’s stock valued at $5,339,000 after buying an additional 848,461 shares in the last quarter. Whetstone Capital Advisors LLC grew its holdings in shares of Eventbrite by 74.6% in the third quarter. Whetstone Capital Advisors LLC now owns 1,432,555 shares of the company’s stock valued at $3,911,000 after purchasing an additional 612,173 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Eventbrite in the third quarter valued at $756,000. 91.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Charles Baker sold 20,000 shares of Eventbrite stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $3.03, for a total transaction of $60,600.00. Following the completion of the transaction, the chief financial officer now directly owns 628,152 shares of the company’s stock, valued at approximately $1,903,300.56. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Vivek Sagi sold 75,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $3.44, for a total transaction of $258,000.00. Following the sale, the chief technology officer now directly owns 495,464 shares of the company’s stock, valued at $1,704,396.16. This represents a 13.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.46% of the company’s stock.

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.