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EB - Eventbrite: Fundamentals Are Improving But Higher Growth Is Needed
Eventbrite Inc. Class A
Eventbrite’s (EB) share price is down approximately 50% over the last 12 months, which may lead investors to question if this is a good entry point into the company. While Eventbrite continues to make progress in its underlying business and I believe there is little downside from the current price, I am not convinced Eventbrite’s addressable market is large enough to make this a truly exciting investment opportunity.
Market
Eventbrite estimates their platform addressed a market opportunity of $3.2 billion in gross ticket fees in 2018 in their top 12 markets. These fees were estimated