As of Tuesday, Eventbrite Inc.’s (NYSE:EB) stock closed at $8.14, down from $8.27 the previous day. While Eventbrite Inc. has underperformed by -1.57%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EB fell by -42.80%, with highs and lows ranging from $16.16 to $5.30, whereas the simple moving average fell by -6.58% in the last 200 days.
On July 15, 2022, Piper Sandler started tracking Eventbrite Inc. (NYSE: EB) recommending Overweight. A report published by KeyBanc Capital Markets on July 13, 2022, Initiated its previous ‘Sector Weight’ rating for EB. Morgan Stanley also rated EB shares as ‘Equal-Weight’, setting a target price of $18 on the company’s shares in an initiating report dated February 10, 2022. RBC Capital Mkts February 28, 2020d its ‘Outperform’ rating to ‘Sector Perform’ for EB, as published in its report on February 28, 2020. Stifel also rated the stock as ‘Hold’.
Analysis of Eventbrite Inc. (EB)
Further, the quarter-over-quarter increase in sales is 26.40%, showing a positive trend in the upcoming months.
One of the most important indicators of Eventbrite Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -47.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and EB is recording 918.85K average volume. On a monthly basis, the volatility of the stock is set at 6.07%, whereas on a weekly basis, it is put at 4.86%, with a gain of 6.96% over the past seven days. Furthermore, long-term investors anticipate a median target price of $10.00, showing growth from the present price of $8.14, which can serve as yet another indication of whether EB is worth investing in or should be passed over.
How Do You Analyze Eventbrite Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.70%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in EB shares?
The recent increase in stakes in EB appears to be a result of several institutional investors and hedge funds increasing their positions. Cadian Capital Management LP’s position in EB has increased by 9.36% in the first quarter. The company now owns 8,010,707 shares of the stock, with a value of $46.94 million, following the purchase of 685,772 additional shares during the last quarter. Morgan Stanley & Co. LLC made another increased to its shares in EB during the first quarter, upping its stake by 301.81%. During the last quarter, the company picked up 5,698,949 additional shares for a total stake of worth $44.46 million, bringing number of shares owned by the company to 7,587,234.
During the first quarter, The Vanguard Group, Inc. added a 264,253 position in EB. BlackRock Fund Advisors purchased an additional 0.3 million shares in the last quarter, increasing its holdings by 6.34%, now holding 5.11 million shares worth $29.92 million.