Canaccord Genuity Group Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $7.00

Vivid Seats (NASDAQ:SEAT) had its price objective decreased by Canaccord Genuity Group from $8.00 to $7.00 in a research report released on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

SEAT has been the subject of a number of other reports. DA Davidson dropped their price objective on Vivid Seats from $6.50 to $6.00 and set a buy rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on Vivid Seats from $5.50 to $4.50 and set a hold rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada decreased their target price on Vivid Seats from $8.00 to $7.00 and set a sector perform rating for the company in a report on Wednesday, August 7th. Benchmark reduced their price target on shares of Vivid Seats from $15.00 to $10.00 and set a buy rating on the stock in a research report on Tuesday, September 10th. Finally, Piper Sandler dropped their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Three equities 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, the stock has an average rating of Moderate Buy and an average price target of $7.06.

Vivid Seats Stock Performance

NASDAQ SEAT opened at $3.98 on Thursday. The business’s 50-day moving average price is $4.66 and its 200 day moving average price is $5.21. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48. Vivid Seats has a twelve month low of $3.58 and a twelve month high of $8.80. The company has a market capitalization of $828.16 million, a PE ratio of 7.41, a price-to-earnings-growth ratio of 15.64 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, research analysts predict that Vivid Seats will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Vivid Seats

Large investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC purchased a new position in Vivid Seats in the 4th quarter valued at about $10,815,000. Blackstone Inc. acquired a new position in shares of Vivid Seats in the 4th quarter valued at approximately $4,424,000. HBK Investments L P purchased a new position in shares of Vivid Seats during the 4th quarter valued at approximately $4,424,000. Victory Capital Management Inc. grew its position in shares of Vivid Seats by 68.4% during the fourth quarter. Victory Capital Management Inc. now owns 35,774 shares of the company’s stock worth $226,000 after buying an additional 14,527 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after buying an additional 273,734 shares during the last quarter. 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.