Brokerages Expect Eventbrite Inc (NYSE:EB) to Announce -$0.19 EPS

Wall Street brokerages predict that Eventbrite Inc (NYSE:EB) will post ($0.19) earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Eventbrite’s earnings, with the highest EPS estimate coming in at ($0.14) and the lowest estimate coming in at ($0.23). The firm is expected to announce its next earnings report on Wednesday, August 7th.

On average, analysts expect that Eventbrite will report full year earnings of ($0.64) per share for the current fiscal year, with EPS estimates ranging from ($0.79) to ($0.48). For the next year, analysts anticipate that the company will report earnings of ($0.42) per share, with EPS estimates ranging from ($0.72) to ($0.11). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Eventbrite.

Eventbrite (NYSE:EB) last posted its earnings results on Wednesday, May 1st. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.05). The business had revenue of $81.30 million for the quarter, compared to the consensus estimate of $82.97 million. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year.

Several analysts have commented on EB shares. SunTrust Banks decreased their target price on shares of Eventbrite to $28.00 and set a “hold” rating for the company in a research report on Friday, March 8th. Royal Bank of Canada decreased their target price on shares of Eventbrite and set an “outperform” rating for the company in a research report on Friday, March 8th. Zacks Investment Research downgraded shares of Eventbrite from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $28.00 target price (up from $20.00) on shares of Eventbrite in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $27.40.

EB stock opened at $16.20 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $1.31 billion and a P/E ratio of -11.17. Eventbrite has a 12 month low of $15.30 and a 12 month high of $40.25. The business has a 50 day simple moving average of $16.63.

In other news, insider Omer Cohen sold 100,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $25.01, for a total value of $2,501,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew Dreskin sold 5,000 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. The disclosure for this sale can be found here. Insiders sold 277,714 shares of company stock valued at $6,057,449 over the last 90 days. 19.61% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. acquired a new position in Eventbrite during the 1st quarter valued at $28,794,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Eventbrite during the 1st quarter valued at $24,442,000. Nikko Asset Management Americas Inc. acquired a new position in Eventbrite during the 1st quarter valued at $24,442,000. ARK Investment Management LLC raised its stake in Eventbrite by 379.7% during the 1st quarter. ARK Investment Management LLC now owns 731,953 shares of the company’s stock valued at $14,032,000 after purchasing an additional 579,380 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Eventbrite by 61.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 789,844 shares of the company’s stock valued at $21,966,000 after purchasing an additional 299,694 shares during the last quarter. Institutional investors and hedge funds own 44.46% of the company’s stock.

Eventbrite Company Profile

Eventbrite, Inc operates a ticketing and event technology platform 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. The company was formerly known as Mollyguard Corporation and changed its name to Eventbrite, Inc in 2009.

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