Analysts Set Vivid Seats Inc. (NASDAQ:SEAT) Target Price at $9.43

Vivid Seats Inc. (NASDAQ:SEAT) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $9.4333.

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th. Scotiabank set a $10.00 price target on shares of Vivid Seats in a report on Friday, March 13th. Wall Street Zen raised shares of Vivid Seats from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Benchmark decreased their price objective on shares of Vivid Seats from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Finally, Royal Bank Of Canada reduced their target price on shares of Vivid Seats from $12.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, March 13th.

Hedge Funds Weigh In On Vivid Seats

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG boosted its stake in shares of Vivid Seats by 270.0% in the fourth quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock worth $78,000 after buying an additional 7,862 shares during the last quarter. Jain Global LLC acquired a new stake in Vivid Seats during the fourth quarter worth about $97,000. Occudo Quantitative Strategies LP purchased a new position in Vivid Seats during the fourth quarter valued at approximately $135,000. Jump Financial LLC purchased a new position in Vivid Seats during the second quarter valued at approximately $32,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Vivid Seats in the fourth quarter valued at approximately $139,000. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Price Performance

SEAT opened at $7.17 on Friday. The business’s 50-day moving average is $7.89 and its two-hundred day moving average is $7.07. The firm has a market capitalization of $77.19 million, a PE ratio of -0.10 and a beta of 1.11. Vivid Seats has a 1 year low of $5.06 and a 1 year high of $38.10.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.32). Vivid Seats had a negative net margin of 82.25% and a positive return on equity of 68.65%. The business had revenue of $125.78 million for the quarter, compared to analysts’ expectations of $124.55 million. As a group, sell-side analysts expect that Vivid Seats will post -4.16 EPS for the current year.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.