Analysts Set Vivid Seats Inc. (NASDAQ:SEAT) Price Target at $7.28

Vivid Seats Inc. (NASDAQ:SEAT) has been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.28.

Several analysts have recently issued reports on SEAT shares. Canaccord Genuity Group lowered their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Benchmark lowered their target price on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. DA Davidson cut their price target on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Piper Sandler decreased 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, Royal Bank of Canada cut their target price on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th.

Vivid Seats Stock Performance

NASDAQ SEAT opened at $4.14 on Wednesday. The company has a market capitalization of $859.68 million, a PE ratio of 7.09, a price-to-earnings-growth ratio of 14.98 and a beta of 1.21. 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 has a 52-week low of $3.36 and a 52-week high of $8.80. The company has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $4.87.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly 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 return on equity of 57.44% and a net margin of 4.73%. The company had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period last year, the firm posted $0.20 EPS. On average, research analysts predict that Vivid Seats will post 0.14 EPS for the current year.

Institutional Trading of Vivid Seats

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in Vivid Seats in the 1st quarter worth $230,000. Capstone Investment Advisors LLC increased its holdings in Vivid Seats by 192.4% during the 1st quarter. Capstone Investment Advisors LLC now owns 149,103 shares of the company’s stock valued at $893,000 after purchasing an additional 98,103 shares during the period. Oppenheimer & Co. Inc. bought a new position in Vivid Seats during the 1st quarter valued at approximately $264,000. Swiss National Bank lifted its holdings in Vivid Seats by 14.0% in the 1st quarter. Swiss National Bank now owns 132,100 shares of the company’s stock worth $791,000 after buying an additional 16,200 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Vivid Seats in the 1st quarter worth approximately $101,000. Institutional investors 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.