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

Vivid Seats Inc. (NASDAQ:SEAT) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.28.

SEAT has been the topic of a number of research analyst reports. Craig Hallum reduced their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Piper Sandler dropped their target price 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 decreased their target price 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. 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 for the company in a research report on Wednesday, August 7th. Finally, Canaccord Genuity Group lowered their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, September 12th.

Institutional Trading of Vivid Seats

Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in Vivid Seats by 1.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock worth $25,134,000 after buying an additional 77,983 shares during the period. Vanguard Group Inc. lifted its position in Vivid Seats by 10.4% during the first quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after buying an additional 410,243 shares during the period. Janus Henderson Group PLC grew its position in shares of Vivid Seats by 10.1% in the 1st 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 period. Anson Funds Management LP lifted its position in Vivid Seats by 66.5% during the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,076,271 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Vivid Seats by 17.6% during the first quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock worth $12,057,000 after acquiring an additional 301,623 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Performance

Shares of SEAT opened at $3.61 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48. The stock has a 50-day moving average price of $4.48 and a 200-day moving average price of $5.13. The company has a market cap of $749.62 million, a PE ratio of 7.60, a price-to-earnings-growth ratio of 15.64 and a beta of 1.22. Vivid Seats has a 12-month low of $3.58 and a 12-month high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released 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). The company had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same period in the prior year, the firm earned $0.20 EPS. As a group, equities analysts forecast that Vivid Seats will post 0.14 earnings per share for the current fiscal year.

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.