Eventbrite (NYSE:EB) Posts Earnings Results, Beats Expectations By $0.04 EPS

Eventbrite (NYSE:EBGet Rating) posted its earnings results on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04, MarketWatch Earnings reports. Eventbrite had a negative return on equity of 51.58% and a negative net margin of 74.86%. During the same period in the previous year, the business earned ($0.37) earnings per share.

Shares of EB stock traded down $0.42 on Friday, hitting $10.58. 3,744,731 shares of the stock were exchanged, compared to its average volume of 822,976. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $1.03 billion, a P/E ratio of -13.74 and a beta of 2.84. The business has a 50-day moving average of $13.67 and a 200 day moving average of $15.85. Eventbrite has a fifty-two week low of $10.49 and a fifty-two week high of $24.00.

In related news, CTO Vivek Sagi sold 27,377 shares of the company’s stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $15.69, for a total transaction of $429,545.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.05% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its stake in Eventbrite by 427.6% in the third quarter. BNP Paribas Arbitrage SA now owns 14,958 shares of the company’s stock valued at $283,000 after buying an additional 12,123 shares during the period. Citigroup Inc. raised its stake in Eventbrite by 118.6% in the fourth quarter. Citigroup Inc. now owns 21,290 shares of the company’s stock valued at $371,000 after buying an additional 11,551 shares during the period. Legal & General Group Plc raised its stake in Eventbrite by 3.6% in the fourth quarter. Legal & General Group Plc now owns 30,583 shares of the company’s stock valued at $534,000 after buying an additional 1,075 shares during the period. Sei Investments Co. raised its stake in Eventbrite by 70.7% in the fourth quarter. Sei Investments Co. now owns 52,589 shares of the company’s stock valued at $917,000 after buying an additional 21,780 shares during the period. Finally, Credit Suisse AG raised its stake in Eventbrite by 3.1% in the fourth quarter. Credit Suisse AG now owns 56,962 shares of the company’s stock valued at $993,000 after buying an additional 1,737 shares during the period. Hedge funds and other institutional investors own 86.96% of the company’s stock.

A number of research analysts have issued reports on the company. Zacks Investment Research raised Eventbrite from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley decreased their target price on Eventbrite from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 16th.

Eventbrite Company Profile (Get Rating)

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.

Further Reading

Earnings History for Eventbrite (NYSE:EB)

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