Eventbrite initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt Farrell initiated coverage of Eventbrite with an Overweight rating and $13 price target. Coming out of the pandemic, management has refocused its strategy on frequent creators, right sized the financial model, and added a creator marketing solution in Boost, Farrell tells investors in a research note. The analyst believes Boost can be a “game changer” for Eventbrite, saying it provides event creators with social media advertising and email marketing tools to drive more ticket sales and reach more buyers. Farrell sees Eventbrite as a “unique opportunity in small cap tech, even with the risk of potential macro headwinds.”