Royal Bank of Canada Has Lowered Expectations for Vivid Seats (NASDAQ:SEAT) Stock Price

Vivid Seats (NASDAQ:SEAT) had its target price decreased by Royal Bank of Canada from $6.00 to $4.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 39.86% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Benchmark lowered their target price on Vivid Seats from $8.00 to $6.00 and set a “buy” rating for the company in a report on Thursday. Bank of America restated an “underperform” rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a report on Thursday. Morgan Stanley decreased their price objective on Vivid Seats from $4.60 to $3.75 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group decreased their price objective on Vivid Seats from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.49.

Vivid Seats Stock Up 1.8 %

Shares of NASDAQ:SEAT opened at $2.86 on Thursday. The business has a 50-day moving average price of $4.29 and a 200 day moving average price of $4.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.79 and a quick ratio of 0.74. Vivid Seats has a 12-month low of $2.51 and a 12-month high of $6.09.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. acquired a new position in Vivid Seats during the third quarter worth approximately $37,000. Stratos Wealth Partners LTD. acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $46,000. Quinn Opportunity Partners LLC acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $46,000. BNP Paribas Financial Markets acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $53,000. Finally, Stoneridge Investment Partners LLC acquired a new position in shares of Vivid Seats in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds 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.