Vivid Seats (NASDAQ:SEAT – Get Free Report) had its target price dropped by research analysts at Maxim Group from $9.00 to $8.00 in a research report issued on Monday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s price objective indicates a potential upside of 99.50% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group decreased their target price on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Craig Hallum lowered their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Royal Bank of Canada reduced their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Benchmark lowered their price objective on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Vivid Seats has a consensus rating of “Moderate Buy” and an average target price of $7.11.
Get Our Latest Research Report on Vivid Seats
Vivid Seats Stock Performance
Vivid Seats (NASDAQ:SEAT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business 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 previous year, the business posted $0.20 EPS. As a group, equities 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 modified their holdings of the business. Ameritas Investment Partners Inc. lifted its stake in shares of Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after buying an additional 5,594 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Vivid Seats in the second quarter valued at approximately $61,000. Marshall Wace LLP acquired a new stake in shares of Vivid Seats in the second quarter valued at approximately $67,000. Ashton Thomas Securities LLC boosted its stake in Vivid Seats by 83.6% during the third quarter. Ashton Thomas Securities LLC now owns 25,595 shares of the company’s stock worth $95,000 after buying an additional 11,655 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Vivid Seats in the 1st quarter worth $101,000. Hedge funds and other 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.
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