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Eventbrite (EB) Soars 22.8%: Is Further Upside Left in the Stock?
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Eventbrite (EB - Free Report) shares ended the last trading session 22.8% higher at $5.70. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.1% loss over the past four weeks.
Eventbrite is benefiting from strong growth in marketplace revenue, higher revenue per ticket, and improved gross margins driven by their two-sided marketplace strategy.
This company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $86.15 million, up 9.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Eventbrite, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EB going forward to see if this recent jump can turn into more strength down the road.
Eventbrite is part of the Zacks Internet - Services industry. DoorDash, Inc. (DASH - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $108.74. DASH has returned -6.3% in the past month.
For DoorDash, the consensus EPS estimate for the upcoming report has changed -5.4% over the past month to -$0.10. This represents a change of +77.3% from what the company reported a year ago. DoorDash currently has a Zacks Rank of #3 (Hold).
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Eventbrite (EB) Soars 22.8%: Is Further Upside Left in the Stock?
Eventbrite (EB - Free Report) shares ended the last trading session 22.8% higher at $5.70. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 6.1% loss over the past four weeks.
Eventbrite is benefiting from strong growth in marketplace revenue, higher revenue per ticket, and improved gross margins driven by their two-sided marketplace strategy.
This company is expected to post quarterly loss of $0.06 per share in its upcoming report, which represents a year-over-year change of -100%. Revenues are expected to be $86.15 million, up 9.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Eventbrite, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EB going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Eventbrite is part of the Zacks Internet - Services industry. DoorDash, Inc. (DASH - Free Report) , another stock in the same industry, closed the last trading session 2.9% higher at $108.74. DASH has returned -6.3% in the past month.
For DoorDash, the consensus EPS estimate for the upcoming report has changed -5.4% over the past month to -$0.10. This represents a change of +77.3% from what the company reported a year ago. DoorDash currently has a Zacks Rank of #3 (Hold).