Eventbrite (NYSE:EB – Get Rating) had its target price lowered by Morgan Stanley from $16.00 to $9.00 in a research note released on Friday morning, Marketbeat reports. The firm currently has an equal weight rating on the stock.
A number of other research analysts also recently weighed in on the stock. Piper Sandler started coverage on shares of Eventbrite in a research report on Thursday, July 14th. They set an overweight rating and a $13.00 price objective on the stock. Truist Financial lowered their price objective on shares of Eventbrite to $23.00 in a research report on Friday, June 3rd. Stifel Nicolaus lowered their price objective on shares of Eventbrite from $15.00 to $14.00 in a research report on Tuesday, June 28th. Finally, KeyCorp started coverage on shares of Eventbrite in a research report on Wednesday, July 13th. They set a sector weight rating on the stock.
Get Eventbrite alerts:Eventbrite Trading Up 6.1 %
NYSE:EB opened at $7.69 on Friday. The company's 50 day moving average price is $8.86 and its 200-day moving average price is $11.30. Eventbrite has a 52 week low of $6.72 and a 52 week high of $22.52. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.23. The stock has a market cap of $756.08 million, a price-to-earnings ratio of -10.25 and a beta of 2.58.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Maverick Capital Ltd. bought a new position in Eventbrite in the fourth quarter worth approximately $51,000. Covestor Ltd raised its position in Eventbrite by 18,765.2% in the first quarter. Covestor Ltd now owns 4,339 shares of the company's stock worth $64,000 after acquiring an additional 4,316 shares during the period. Centaurus Financial Inc. raised its position in Eventbrite by 13.9% in the first quarter. Centaurus Financial Inc. now owns 10,645 shares of the company's stock worth $157,000 after acquiring an additional 1,300 shares during the period. Ensign Peak Advisors Inc bought a new stake in shares of Eventbrite during the 4th quarter valued at $190,000. Finally, Sciencast Management LP bought a new stake in shares of Eventbrite during the 2nd quarter valued at $106,000. 83.88% of the stock is currently owned by institutional investors.About Eventbrite
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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.
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