UPDATE: Piper Sandler Starts Eventbrite Inc. (EB) at Overweight

Piper Sandler analyst Matt Farrell initiates coverage on Eventbrite Inc. (NYSE: EB) with a Overweight rating and a price target of $13.00.

The analyst comments "We are initiating coverage of Eventbrite (EB) with an Overweight rating and a $13 price target. Coming out of the pandemic, we believe Eventbrite is a very different company than the one that entered 2020. Management has refocused its strategy on frequent creators, right sized the financial model, and added a creator marketing solution in Boost. Specifically, we believe Boost can be a game changer for the company, as it provides event creators with social media advertising and email marketing tools to drive more ticket sales and reach more buyers. Still in its early days, we feel early signs are pointing to clear and obvious benefits for users (16% more ticket sales and 5-to-1 return on ad dollars). Overall, we see Eventbrite as unique opportunity in small cap tech, even with the risk of potential macro headwinds."

For an analyst ratings summary and ratings history on Eventbrite Inc. click here. For more ratings news on Eventbrite Inc. click here.

Shares of Eventbrite Inc. closed at $10.22 yesterday.

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