Eventbrite price target lowered to $9 from $11 at Morgan Stanley

Morgan Stanley analyst Cameron Mansson-Perrone lowered the firm’s price target on Eventbrite to $9 from $11 and keeps an Equal Weight rating on the shares. Eventbrite expects revenue growth to decelerate meaningfully in 2024, driven by a more adverse response to the recent transition to charge for all event listings, and while this may “still prove the right strategy,” in the near term it drives elevated uncertainty and widens the risk/reward, the analyst tells investors in a post-earnings note.