Analyst Dae Lee of J.P. Morgan maintained a Hold rating on Eventbrite (EB – Research Report), with a price target of $6.00.
Dae Lee has given his Hold rating due to a combination of factors, including Eventbrite’s (EB) recent financial performance and expectations for the future. The company’s first-quarter results aligned with or slightly exceeded expectations, and there is an anticipation for further improvement throughout the year. Despite a decrease in paid ticket volume year-over-year, the company saw positive developments, such as an increase in marketplace revenue as a percentage of total revenue and a consistent renewal rate among large advertisers. Lee recognizes these improvements, suggesting the potential for recovery and growth in the long term.
However, Lee remains cautious, citing a “tad soft” second-quarter revenue guide and the need for Eventbrite to demonstrate strong execution in upcoming quarters to achieve targeted growth rates and margins. The current valuation is based on approximately ten times the projected adjusted EBITDA for 2025, which reflects both near-term challenges and the potential for revenue growth and margin expansion. While acknowledging the positive aspects and the strategic moves Eventbrite is making, Lee maintains a neutral stance until there is clearer evidence of sustained progress towards the company’s financial targets.
Lee covers the Real Estate sector, focusing on stocks such as Opendoor Technologies, Redfin, and Offerpad Solutions. According to TipRanks, Lee has an average return of -8.1% and a 41.18% success rate on recommended stocks.
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Eventbrite (EB) Company Description:
Eventbrite, Inc. provides event management services encompassing online ticketing, event hosting, organization, promotion and advertising. The company was founded by Alan Michael Braverman, Renaud Visage, Kevin E. Hartz and Julia Hartz in 2006 and is headquartered in San Francisco, CA.
