Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $8.00 at Craig Hallum

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by Craig Hallum from $10.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price objective would indicate a potential upside of 96.32% from the company’s previous close.

A number of other brokerages also recently weighed in on SEAT. Royal Bank of Canada reduced their target price on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. DA Davidson reissued a “buy” rating and issued a $6.50 price objective on shares of Vivid Seats in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Piper Sandler dropped their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Benchmark decreased their price target on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Vivid Seats Stock Down 3.1 %

Shares of NASDAQ SEAT opened at $4.08 on Tuesday. Vivid Seats has a 1-year low of $3.58 and a 1-year high of $8.80. The company has a fifty day moving average price of $4.74 and a 200 day moving average price of $5.24. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.

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

Institutional Trading of Vivid Seats

A number of hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its holdings in shares of Vivid Seats by 68.4% in the 4th quarter. Victory Capital Management Inc. now owns 35,774 shares of the company’s stock worth $226,000 after purchasing an additional 14,527 shares in the last quarter. Swiss National Bank boosted its stake in Vivid Seats by 37.2% in the 4th quarter. Swiss National Bank now owns 115,900 shares of the company’s stock worth $732,000 after purchasing an additional 31,400 shares during the period. Boston Partners grew its stake in Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after acquiring an additional 1,949,891 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Vivid Seats by 223.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 91,035 shares of the company’s stock worth $575,000 after purchasing an additional 62,891 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new stake in shares of Vivid Seats during the 4th quarter worth approximately $10,815,000. 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.