Vivid Seats’ (SEAT) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a research note published on Friday morning, Benzinga reports. The firm currently has a $6.50 price target on the stock.

SEAT has been the subject of a number of other reports. Piper Sandler decreased their price objective 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. Benchmark reiterated a buy rating and issued a $15.00 price objective on shares of Vivid Seats in a research note on Tuesday, July 30th. Maxim Group increased their target price on shares of Vivid Seats from $7.00 to $9.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Royal Bank of Canada lowered 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 report on Wednesday, August 7th. Finally, Canaccord Genuity Group cut their price objective on Vivid Seats from $12.00 to $10.00 and set a buy rating for the company in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $8.38.

Vivid Seats Stock Up 8.6 %

Shares of Vivid Seats stock opened at $4.31 on Friday. Vivid Seats has a 12-month low of $3.58 and a 12-month high of $8.80. The firm has a market capitalization of $894.98 million, a PE ratio of 7.22, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.89. The stock’s fifty day moving average is $5.01 and its 200-day moving average is $5.40.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 170.34% and a net margin of 9.21%. During the same period in the prior year, the business posted $0.20 EPS. Equities analysts anticipate that Vivid Seats will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds have recently bought and sold shares of the business. Boston Partners boosted its stake in shares of Vivid Seats by 118.3% during the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after acquiring an additional 1,949,891 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Vivid Seats during the fourth quarter worth approximately $10,815,000. Invenomic Capital Management LP grew its holdings in Vivid Seats by 289.4% during the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock valued at $9,220,000 after purchasing an additional 1,143,870 shares during the last quarter. Anson Funds Management LP raised its position in shares of Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after purchasing an additional 1,076,271 shares during the period. Finally, First Sabrepoint Capital Management LP acquired a new stake in shares of Vivid Seats in the first quarter worth $5,690,000. 39.92% of the stock is owned by institutional investors and hedge funds.

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.