Vivid Seats (NASDAQ:SEAT) Receives Neutral Rating from Piper Sandler

Vivid Seats (NASDAQ:SEAT)‘s stock had its “neutral” rating reissued by investment analysts at Piper Sandler in a report released on Friday,Benzinga reports. They currently have a $4.00 target price on the stock, down from their previous target price of $5.00. Piper Sandler’s target price indicates a potential upside of 6.95% from the stock’s current price.

A number of other brokerages also recently weighed in on SEAT. Maxim Group reduced their price target on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday. Benchmark reduced their price target on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Craig Hallum reduced their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Vivid Seats from $4.50 to $4.00 and set a “hold” rating for the company in a report on Monday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Vivid Seats Price Performance

Shares of Vivid Seats stock opened at $3.74 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. Vivid Seats has a fifty-two week low of $3.36 and a fifty-two week high of $8.80. The firm has a fifty day moving average price of $3.99 and a two-hundred day moving average price of $4.70. The company has a market cap of $778.23 million, a PE ratio of 7.29, a price-to-earnings-growth ratio of 16.22 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The company had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period last year, the company earned $0.20 earnings per share. Analysts expect that Vivid Seats will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in SEAT. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats during the 3rd quarter worth about $37,000. Ameritas Investment Partners Inc. increased its position in shares of Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after purchasing an additional 5,594 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Vivid Seats during the 2nd quarter worth about $61,000. Marshall Wace LLP acquired a new stake in Vivid Seats in the 2nd quarter valued at about $67,000. Finally, Ashton Thomas Securities LLC increased its position in Vivid Seats by 83.6% in the 3rd quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock valued at $95,000 after acquiring an additional 11,655 shares in the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.

Vivid Seats Company Profile

Vivid Seats Inc operates an online ticket marketplace in the United States, Canada, and Japan. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for sports, concerts, theater events, and other live events.