Eventbrite Inc (NYSE: EB) stock jumped 0.28% on Friday to $7.29 against a previous-day closing price of $7.27. With 1.18 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.0 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $7.43 whereas the lowest price it dropped to was $7.22. The 52-week range on EB shows that it touched its highest point at $11.90 and its lowest point at $5.30 during that stretch. It currently has a 1-year price target of $12.80. Beta for the stock currently stands at 2.48.
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 0.83%, but this was down by -16.21% over a month. Three-month performance dropped to -28.88% while six-month performance fell -1.35%. The stock lost -0.14% in the past year, while it has gained 24.40% so far this year. A look at the trailing 12-month EPS for EB yields -0.21 with Next year EPS estimates of -0.13. For the next quarter, that number is -0.06. This implies an EPS growth rate of 50.89% for this year and 53.64% 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 22.20%.
Float and Shares Shorts:
At present, 81.53 million EB shares are outstanding with a float of 78.47 million shares on hand for trading. On Oct 30, 2023, short shares totaled 12.42 million, which was 12.34% higher than short shares on Sep 28, 2023. In addition to Mr. Kevin Earnest Hartz as the firm’s Co-Founder & Executive Chairman, Ms. Julia D. Hartz serves as its Co-Founder, CEO & Director.
Institutional Ownership:
Other institutions hold 49.75% of EB, in contrast to 48.34% held by mutual funds. Shares owned by individuals account for 3.82%. As the largest shareholder in EB with 9.31% of the stake, The Vanguard Group, Inc. holds 7,688,436 shares worth 7,688,436. A second-largest stockholder of EB, BlackRock Fund Advisors, holds 5,543,973 shares, controlling over 6.72% of the firm’s shares. Broad Bay Capital Management LP is the third largest shareholder in EB, holding 3,725,000 shares or 4.51% stake. With a 3.09% stake in EB, the American Century Small Cap Growth is the largest stakeholder. A total of 2,553,703 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.07% of EB stock, is the second-largest Mutual Fund holder. It holds 2,533,728 shares valued at 20.98 million. Vanguard Small Cap Index Fund holds 2.44% of the stake in EB, owning 2,015,180 shares worth 16.69 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EB since 0 analysts follow the stock currently. 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 $17.00 and a low target of $10.00, the average target price over the next 12 months is $12.80. Based on these targets, EB could surge 133.2% to reach the target high and rise by 37.17% to reach the target low. Reaching the average price target will result in a growth of 75.58% from current levels.
Summary of Insider Activity:
Insiders traded EB stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 69 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 1,382,362 while 245,085 shares were sold.
