Vivid Seats (NASDAQ:SEAT) Price Target Cut to $8.00 by Analysts at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by Benchmark from $10.00 to $8.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reissued a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a research note on Friday. Citigroup cut their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Royal Bank of Canada lowered their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group cut their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Vivid Seats Price Performance

NASDAQ:SEAT opened at $3.87 on Friday. The stock has a 50 day moving average price of $3.97 and a 200 day moving average price of $4.67. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The stock has a market cap of $805.28 million, a PE ratio of 6.80, a P/E/G ratio of 15.31 and a beta of 1.18. Vivid Seats has a one year low of $3.36 and a one year high of $8.80.

Institutional Trading of Vivid Seats

Several institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. boosted its stake in Vivid Seats by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after acquiring an additional 1,680,327 shares in the last quarter. Invenomic Capital Management LP raised its position in Vivid Seats by 289.4% in the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares during the last quarter. Anson Funds Management LP boosted its stake in Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after purchasing an additional 1,076,271 shares during the period. First Sabrepoint Capital Management LP purchased a new position in Vivid Seats during the 1st quarter worth $5,690,000. Finally, Vanguard Group Inc. increased its stake in Vivid Seats by 10.4% in the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after purchasing an additional 410,243 shares during the period. Hedge funds and other institutional investors 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.