5 52-Week Low Stocks to Buy Now

4. Eventbrite, Inc. (NYSE:EB)

Number of Hedge Fund Holders: 18

52-Week Low as of August 1: $8.51

Eventbrite, Inc. (NYSE:EB) is a California-based company that provides a self-service ticketing and experience technology platform for event managers in the United States and internationally. In Q2 2022, Eventbrite, Inc. (NYSE:EB) reported that paid ticket volume rose 37% year-over-year to 21.9 million, in addition to growth in event volume and scale. The company recorded a revenue of $66 million for the June quarter. However, the stock reached a 52-week low of $8.51 on August 1. 

On July 14, Piper Sandler analyst Matt Farrell assumed coverage of Eventbrite, Inc. (NYSE:EB) with an Overweight rating and a $13 price target. As the pandemic restrictions ease, Eventbrite, Inc. (NYSE:EB)’s management has shifted its strategy towards frequent creators, modified the financial strategy, and added a creator marketing solution in Boost, the analyst told investors. He believes Boost can be a “game changer” for Eventbrite, Inc. (NYSE:EB), since it offers social media advertising and email marketing tools to event creators to generate higher ticket sales and reach more customers. The analyst sees Eventbrite, Inc. (NYSE:EB) as a “unique opportunity in small cap tech, even with the risk of potential macro headwinds”.

According to Insider Monkey’s data, 18 hedge funds were bullish on Eventbrite, Inc. (NYSE:EB) at the end of March 2022, compared to 20 funds in the earlier quarter. Portsea Asset Management is the leading stakeholder of the company, with 5.6 million shares worth $82.6 million. 

Here is what Artisan Partners has to say about Eventbrite, Inc. (NYSE:EB) in its Q2 2021 investor letter:

“Eventbrite is the largest software and ticketing platform helping event creators plan, promote and produce live events in small-and-mid markets. The company generates revenue by charging a per-ticket fee on paid tickets and has a strong foothold in the small-and-mid markets—nearly 20X the size of the next largest competitor. We believe Eventbrite is well-positioned to benefit from a sharp increase in demand for live events amid the broader re-opening of the US economy—a dynamic it has already witnessed in Australia with live events bouncing back to approximately 90% of 2019 levels. We expect this to be amplified by significant cost cuts made during the pandemic (>30% of 2019 revenue) remaining in place. Longer term, we believe Eventbrite should benefit from the secular trend toward consumer experiences, an industry growing over 8% per year prior to the pandemic.”