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Fly News Breaks for January 24, 2020
EB
Jan 24, 2020 | 10:54 EDT
William Blair analyst Ryan Sundby provided some visibility into measurable channels of online consumer interest ahead of Eventbrite's Q4 earnings release. Sundby tells investors in a research note that, according to comScore data, year-over-year growth in unique visitor traffic and total visits to the Eventbrite website have continued to accelerate throughout the third and fourth quarters, including visitation reaching an all-time high in October before receding somewhat during November and December. The analyst says he continues to be attracted to the role the company plays in empowering live event entertainment through its digital marketplace and ticketing operations. He made no change to his Outperform rating.
News For EB From the Last 2 Days
EB
Apr 30, 2024 | 06:45 EDT
KeyBanc lowered the firm's price target on Eventbrite to $6 from $13 and keeps an Overweight rating on the shares. As the firm reflects on Eventbrite's recent challenges, it sees a business that could have tested organizer fees more and communicated platform value more before proceeding with changes. In the near term, this is disruptive to revenue growth as it takes time for creators to return to the platform. KeyBanc's sense is revenue growth bottoms around +10% year-over-year in the first half of 2024 and can re-accelerate to +12% year-over-year in the second half of 2024 and +15% year-over-year in 2025 as Eventbrite works through these issues.