Eventbrite price target lowered to $7 from $10 at JPMorgan

JPMorgan lowered the firm’s price target on Eventbrite to $7 from $10 and keeps a Neutral rating on the shares. The company’s Q4 results “were a touch soft” and the outlooks for Q1 and 2024 were well below expectations, largely as the organizer fee implementation is having a greater than expected impact om paid ticket volume, the analyst tells investors in a research note. The firm believes paid ticket volume weakness should be transitory, but says strong execution is critical over the next few quarters as Eventbrite “works through some of this noise.”