Vivid Seats Inc. (NASDAQ:SEAT) Receives $9.89 Average Price Target from Analysts

Vivid Seats Inc. (NASDAQ:SEAT) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts have issued reports on SEAT shares. Royal Bank of Canada lowered their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Benchmark reiterated a “buy” rating and set a $15.00 price target on shares of Vivid Seats in a research report on Tuesday, July 30th. DA Davidson reiterated a “buy” rating and set a $7.00 price target on shares of Vivid Seats in a research report on Friday, June 21st. Piper Sandler lowered their price target on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Maxim Group increased their price target on Vivid Seats from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Investment Counsel Inc. lifted its position in Vivid Seats by 57.6% during the second quarter. Johnson Investment Counsel Inc. now owns 35,676 shares of the company’s stock worth $205,000 after buying an additional 13,040 shares in the last quarter. American Century Companies Inc. lifted its position in Vivid Seats by 23.1% during the second quarter. American Century Companies Inc. now owns 55,243 shares of the company’s stock worth $318,000 after buying an additional 10,372 shares in the last quarter. Rhumbline Advisers lifted its position in Vivid Seats by 9.3% during the second quarter. Rhumbline Advisers now owns 93,197 shares of the company’s stock worth $536,000 after buying an additional 7,961 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Vivid Seats during the second quarter worth approximately $61,000. Finally, Bank of New York Mellon Corp lifted its position in Vivid Seats by 13.0% during the second quarter. Bank of New York Mellon Corp now owns 327,175 shares of the company’s stock worth $1,881,000 after buying an additional 37,671 shares in the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Up 3.5 %

Vivid Seats stock opened at $3.85 on Friday. The firm has a market cap of $799.46 million, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. Vivid Seats has a 52 week low of $3.65 and a 52 week high of $8.80. The business’s 50-day moving average price is $5.17 and its 200 day moving average price is $5.49. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.89.

Vivid Seats (NASDAQ:SEAT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). The company had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. During the same period last year, the business earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Vivid Seats will post 0.26 earnings per share for the current year.

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.