Eventbrite (EB – Research Report), the Technology sector company, was revisited by a Wall Street analyst today. Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on the stock and has a $12.00 price target.
Hamed Khorsand has given his Buy rating due to a combination of factors that suggest a positive outlook for Eventbrite, despite some recent challenges. Khorsand has likely analyzed the company’s financials and market position, recognizing its strong cash reserves and relatively modest debt level, which could offer financial flexibility and resilience. He may also be considering the potential for revenue growth and margin improvement as the company adjusts to its new pricing structure, which could lead to a more profitable business model over time.
Moreover, Khorsand’s recommendation could be influenced by Eventbrite’s market capitalization relative to its adjusted EBITDA, suggesting the stock may be undervalued. The platform’s established user base and its ability to cater to a wide range of events provide a solid foundation for future growth. It’s possible that Khorsand sees the current dip in event and ticket numbers as a temporary setback following the pricing adjustment, and anticipates a recovery as the company adapts and moves forward. Therefore, the Buy rating may reflect an expectation of Eventbrite’s stock performance improvement in the 12-month horizon, as indicated by the set target price.
In another report released today, Truist Financial also maintained a Buy rating on the stock with a $11.00 price target.
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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.
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