Eventbrite (EB) stock soared on Tuesday after the global ticketing and event technology company announced an acquisition agreement with Italian technology conglomerate Bending Spoons (BENDI). Under the agreement, Bending Spoons will acquire the company for $500 million in cash, which comes to $4.50 per share, representing an 82% premium over Eventbrite’s 60-day volume-weighted average share price.
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Eventbrite’s Board of Directors has given its unanimous support to the deal and expects it to close in the first half of 2026. The acquisition will need to complete customary closing conditions and receive approval from EB shareholders and regulators. If this happens, Eventbrite will become a privately held company and EB stock will no longer trade on a public exchange.
Investors will note that Bending Spoons has been on a buying spree lately to expand its portfolio. The company recently closed its acquisition of video-sharing platform Vimeo, which it purchased for $1.38 billion. The company has also signed a definitive merger agreement to acquire web service provider AOL.
Eventbrite Stock Movement Today
Eventbrite stock was up 79.03% in pre-market trading on Tuesday, following a slight dip yesterday. The stock has fallen 26.19% year-to-date and 35.58% over the past 12 months.
With today’s acquisition news came heavy trading of Eventbrite stock, as some 3.5 million shares changed hands. That’s well above the company’s three-month daily average trading volume of about 576,000 units.
Is Eventbrite Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Eventbrite is Hold, based on three Hold ratings over the past three months. With that comes an average EB stock price target of $2.70, representing a potential 8.87% upside for the shares.
