Information Provided By:
Fly News Breaks for January 8, 2019
EB, SQ
Jan 8, 2019 | 06:51 EDT
Square (SQ) this year will begin to process payment volumes for Eventbrite (EB), a fast growing event ticketing website, in the U.S. and other major geographies. Nomura Instinet analyst Dan Dolev tells investors in a research note titled "Eventbrite Could Meaningfully Boost GPV." The analyst estimates Eventbrite could contribute $2B-$4B in 2019 to Square's gross payment volume and $5M-$11M to adjusted net revenue. He does not believe Eventbrite's contribution is reflected in consensus estimates. Dolev raised his price target for Square shares to $108 from $107 and keeps a Buy rating on the name.