Eventbrite Inc. (EB) Performance and Fundamentals Dashboard tells a completely different story

Eventbrite Inc. (NYSE: EB) stock jumped 2.22% on Monday to $8.27 against a previous-day closing price of $8.09. With 0.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.92 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $8.44 whereas the lowest price it dropped to was $8.07. The 52-week range on EB shows that it touched its highest point at $16.16 and its lowest point at $5.30 during that stretch. It currently has a 1-year price target of $10.00. Beta for the stock currently stands at 2.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EB was up-trending over the past week, with a rise of 9.25%, but this was up by 40.17% over a month. Three-month performance surged to 30.65% while six-month performance fell -27.77%. The stock lost -44.12% in the past year, while it has gained 41.13% so far this year. A look at the trailing 12-month EPS for EB yields -0.78 with Next year EPS estimates of -0.48. For the next quarter, that number is -0.14. This implies an EPS growth rate of 41.40% for this year and 36.00% for next year. EPS is expected to grow by 46.40% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -22.80%.

Float and Shares Shorts:

At present, 98.54 million EB shares are outstanding with a float of 79.80 million shares on hand for trading. On Oct 13, 2022, short shares totaled 17.06 million, which was 17.35% higher than short shares on Sep 14, 2022. In addition to Mr. Kevin Earnest Hartz as the firm’s Co-Founder & Exec. Chairman, Ms. Julia D. Hartz serves as its Co-Founder, CEO & Director.


Institutional Ownership:

Through their ownership of 106.60% of EB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 77.31% of EB, in contrast to 35.76% held by mutual funds. Shares owned by individuals account for 2.43%. As the largest shareholder in EB with 9.88% of the stake, Cadian Capital Management LP holds 8,010,707 shares worth 8,010,707. A second-largest stockholder of EB, Morgan Stanley & Co. LLC, holds 7,587,234 shares, controlling over 9.36% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in EB, holding 7,498,313 shares or 9.25% stake. With a 3.13% stake in EB, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,533,728 shares are owned by the mutual fund manager. The First Trust Cloud Computing ETF, which owns about 2.87% of EB stock, is the second-largest Mutual Fund holder. It holds 2,323,327 shares valued at 13.61 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in EB, owning 2,089,311 shares worth 12.24 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EB since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EB analysts setting a high price target of $16.00 and a low target of $8.00, the average target price over the next 12 months is $10.00. Based on these targets, EB could surge 93.47% to reach the target high and fall by -3.26% to reach the target low. Reaching the average price target will result in a growth of 20.92% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EB will report FY 2022 earnings on 02/09/2024. Analysts have provided yearly estimates in a range of -$0.75 being high and -$0.78 being low. For EB, this leads to a yearly average estimate of -$0.76. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Eventbrite Inc. surprised analysts by -$0.05 when it reported -$0.21 EPS against a consensus estimate of -$0.16. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.12 and the low estimate is -$0.18. The average estimate for the next quarter is thus -$0.15.

Summary of Insider Activity:

Insiders traded EB stock several times over the past three months with 11 Buys and 11 Sells. In these transactions, 97,744 shares were bought while 41,684 shares were sold. The number of buy transactions has increased to 77 while that of sell transactions has risen to 45 over the past year. The total number of shares bought during that period was 496,214 while 197,482 shares were sold.

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