Vivid Seats (NASDAQ:SEAT) Price Target Cut to $9.00

Vivid Seats (NASDAQ:SEAT) had its price objective dropped by stock analysts at Citigroup from $10.00 to $9.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 142.59% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Benchmark dropped their price target on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Craig Hallum reduced their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Piper Sandler decreased their target price on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, DA Davidson decreased their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.28.

Vivid Seats Price Performance

Vivid Seats stock traded down $0.15 during midday trading on Friday, reaching $3.71. 768,495 shares of the company were exchanged, compared to its average volume of 1,455,179. The firm’s 50-day simple moving average is $4.55 and its 200-day simple moving average is $5.16. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The company has a market capitalization of $770.39 million, a price-to-earnings ratio of 7.20, a P/E/G ratio of 15.64 and a beta of 1.22. Vivid Seats has a 1 year low of $3.58 and a 1 year high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released 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). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. During the same quarter in the previous year, the company earned $0.20 earnings per share. On average, analysts anticipate that Vivid Seats will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in Vivid Seats by 68.4% in the fourth quarter. Victory Capital Management Inc. now owns 35,774 shares of the company’s stock valued at $226,000 after purchasing an additional 14,527 shares in the last quarter. Swiss National Bank increased its position in Vivid Seats by 37.2% during the 4th quarter. Swiss National Bank now owns 115,900 shares of the company’s stock worth $732,000 after purchasing an additional 31,400 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Vivid Seats by 223.5% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 91,035 shares of the company’s stock valued at $575,000 after acquiring an additional 62,891 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $10,815,000. Finally, Millrace Asset Group Inc. acquired a new position in shares of Vivid Seats during the fourth quarter worth $1,687,000. 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.