Vivid Seats’ (SEAT) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a report published on Friday morning, Benzinga reports. The brokerage currently has a $7.00 target price on the stock.

Other equities analysts have also issued reports about the stock. Maxim Group increased their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Benchmark reissued a buy rating and issued a $15.00 price objective on shares of Vivid Seats in a research report on Wednesday, May 1st. Royal Bank of Canada dropped their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a sector perform rating on the stock in a research report on Wednesday, March 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a buy rating on the stock in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $9.86.

Vivid Seats Stock Performance

NASDAQ SEAT opened at $5.37 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.89. The firm’s fifty day moving average price is $5.36 and its two-hundred day moving average price is $5.80. Vivid Seats has a 1 year low of $4.70 and a 1 year high of $8.80. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 3.20 and a beta of 1.20.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $190.85 million during the quarter, compared to the consensus estimate of $181.56 million. Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. As a group, research analysts anticipate that Vivid Seats will post 0.26 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in Vivid Seats by 84.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock worth $29,000 after buying an additional 2,090 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Vivid Seats during the third quarter worth about $37,000. Ameritas Investment Partners Inc. grew its stake in Vivid Seats by 301.6% during the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after buying an additional 5,594 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Vivid Seats during the fourth quarter worth about $65,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Vivid Seats by 417.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock worth $71,000 after acquiring an additional 9,121 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

About Vivid Seats

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.