JPMorgan lowered the firm’s price target on Eventbrite to $6 from $7 and keeps a Neutral rating on the shares. The company’s Q1 results were in-line to ahead of expectations, but the Q2 revenue guidance “was a tad soft,” the analyst tells investors in a research note. The firm believes Eventbrite’s Q1 trended as expected with paid ticket volume decreasing 8% year-over-year. It remains on the sidelines pending the company getting back on track to reach the targeted 20% revenue growth and 20% adjusted EBITDA margin.
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