Eventbrite Inc (EB) – Don’t Be So Quick to Call it Dead

Eventbrite Inc (NYSE: EB) is 3.47% higher on its value in year-to-date trading and has touched a low of $6.20 and a high of $11.90 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The EB stock was last observed hovering at around $8.45 in the last trading session, with the day’s gains setting it 0.2%.

Currently trading at $8.65, the stock is 6.69% and 8.90% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.73 million and changing 2.37% at the moment leaves the stock -0.32% off its SMA200. EB registered -2.26% loss for a year compared to 6-month loss of -22.84%. The firm has a 50-day simple moving average (SMA 50) of $1.65 and a 200-day simple moving average (SMA200) of $99.09.

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The stock witnessed a 13.37% gain in the last 1 month and extending the period to 3 months gives it a 4.98%, and is 1.17% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.49% over the week and 3.71% over the month.

Eventbrite Inc (EB) has around 881 employees, a market worth around $870.36M and $309.91M in sales. Profit margin for the company is -6.95%. Distance from 52-week low is 39.40% and -27.34% from its 52-week high. The company has generated returns on investments over the last 12 months (-4.00%).

Eventbrite Inc quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $88.52M over the same period.The EPS is expected to grow by 51.49% this year, but quarterly earnings will post 25.30% year-over-year. Quarterly sales are estimated to grow 23.70% in year-over-year returns.

225 institutions hold shares in Eventbrite Inc (EB), with institutional investors hold 104.84% of the company’s shares. The shares outstanding are 81.53M, and float is at 79.21M with Short Float at 12.76%. Institutions hold 101.64% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 7.88 million shares valued at $75.24 million. The investor’s holdings represent 9.55% of the EB Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 7.85 million shares valued at $74.99 million to account for 9.52% of the shares outstanding. The other top investors are Broad Bay Capital Management, LP which holds 4.5 million shares representing 5.45% and valued at over $42.98 million, while Morgan Stanley holds 4.81% of the shares totaling 3.97 million with a market value of $37.88 million.

Eventbrite Inc (EB) Insider Activity

A total of 32 insider transactions have happened at Eventbrite Inc (EB) in the last six months, with sales accounting for 14 and purchases happening 18 times. The most recent transaction is an insider sale by Baker Charles, the company’s Chief Financial Officer. SEC filings show that Baker Charles sold 20,000 shares of the company’s common stock on Dec 15 at a price of $8.34 per share for a total of $0.17 million. Following the sale, the insider now owns 0.36 million shares.

Eventbrite Inc disclosed in a document filed with the SEC on Aug 08 that Sagi Vivek (Chief Technology Officer) sold a total of 100,568 shares of the company’s common stock. The trade occurred on Aug 08 and was made at $11.24 per share for $1.13 million. Following the transaction, the insider now directly holds 0.18 million shares of the EB stock.

Still, SEC filings show that on May 12, Taylor Julia D. (General Counsel) disposed off 36,187 shares at an average price of $7.00 for $0.25 million. The insider now directly holds 191,609 shares of Eventbrite Inc (EB).

Eventbrite Inc (EB): Who are the competitors?

One of the company’s main competitors (and peers) include Meta Platforms Inc. (META) that is trading 169.88% up over the past 12 months.Spotify Technology S.A. (SPOT) lies in the list of competitors of the Eventbrite Inc and is 91.76% higher over the same period from EBZoom Video Communications Inc. (ZM) is -13.89% down on the 1-year trading charts.