Eventbrite Inc (NYSE:EB) Short Interest Up 68.4% in October
Eventbrite Inc (NYSE:EB) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,292,456 shares, an increase of 68.4% from the October 15th total of 767,294 shares. Currently, 12.9% of the shares of the stock are short sold. Based on an average daily volume of 417,574 shares, the days-to-cover ratio is currently 3.1 days.
EB has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price objective on shares of Eventbrite in a report on Tuesday, November 13th. SunTrust Banks started coverage on Eventbrite in a research report on Monday, October 15th. They set a “hold” rating and a $30.00 price target for the company. JPMorgan Chase & Co. started coverage on Eventbrite in a research report on Monday, October 15th. They set a “neutral” rating and a $31.00 price target for the company. Goldman Sachs Group started coverage on Eventbrite in a research report on Monday, October 15th. They set a “neutral” rating and a $28.00 price target for the company. Finally, Royal Bank of Canada started coverage on Eventbrite in a research report on Monday, October 15th. They set an “outperform” rating and a $37.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Eventbrite presently has an average rating of “Hold” and a consensus price target of $31.80.
Several large investors have recently made changes to their positions in EB. Vanguard Group Inc. purchased a new stake in shares of Eventbrite in the third quarter valued at $26,433,000. BlackRock Inc. acquired a new position in Eventbrite in the third quarter valued at $19,212,000. FMR LLC acquired a new position in Eventbrite in the third quarter valued at $15,339,000. Capital Research Global Investors acquired a new position in Eventbrite in the third quarter valued at $15,188,000. Finally, Capital World Investors acquired a new position in Eventbrite in the third quarter valued at $15,188,000. 35.98% of the stock is owned by institutional investors and hedge funds.
Eventbrite (NYSE:EB) last released its quarterly earnings results on Monday, November 12th. The company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.77). The business had revenue of $73.60 million during the quarter, compared to the consensus estimate of $71.66 million. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.61) earnings per share. Research analysts predict that Eventbrite will post -0.6 earnings per share for the current year.
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Eventbrite Company Profile
Eventbrite, Inc operates as a technology platform worldwide. 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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