Vivid Seats (NASDAQ:SEAT) Price Target Cut to $6.00

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by DA Davidson from $6.50 to $6.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on SEAT. Benchmark lowered their price objective on shares of Vivid Seats from $15.00 to $10.00 and set a buy rating for the company in a research report on Tuesday, September 10th. Piper Sandler lowered their price target on Vivid Seats from $7.00 to $5.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price objective on Vivid Seats from $5.50 to $4.50 and set a hold rating on the stock in a report on Monday, August 12th. Royal Bank of Canada cut their price target on shares of Vivid Seats from $8.00 to $7.00 and set a sector perform rating on the stock in a research note on Wednesday, August 7th. Finally, Craig Hallum reduced their target price on shares of Vivid Seats from $10.00 to $8.00 and set a buy rating on the stock in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $7.06.

Vivid Seats Stock Up 0.5 %

SEAT stock opened at $3.98 on Thursday. Vivid Seats has a one year low of $3.58 and a one year high of $8.80. The firm has a market cap of $828.16 million, a PE ratio of 7.41, a PEG ratio of 15.64 and a beta of 1.22. The firm’s 50 day moving average price is $4.66 and its 200-day moving average price is $5.21. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79.

Vivid Seats (NASDAQ:SEAT) last posted its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS 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 business had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, equities research analysts anticipate that Vivid Seats will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Vivid Seats by 68.4% during 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 during the last quarter. Swiss National Bank boosted its position in shares of Vivid Seats by 37.2% during the 4th quarter. Swiss National Bank now owns 115,900 shares of the company’s stock worth $732,000 after acquiring an additional 31,400 shares in the last quarter. Boston Partners increased its holdings in shares of Vivid Seats by 118.3% in the 4th 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 during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of Vivid Seats by 223.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 91,035 shares of the company’s stock valued at $575,000 after acquiring an additional 62,891 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of Vivid Seats during the 4th quarter worth about $10,815,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.