Vivid Seats Inc. (NASDAQ:SEAT) Receives $9.43 Average Price Target from Brokerages

Vivid Seats Inc. (NASDAQ:SEAT) has been given an average recommendation of “Hold” by the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.4333.

SEAT has been the subject of several recent research reports. Zacks Research upgraded Vivid Seats from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. Wall Street Zen raised Vivid Seats from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Morgan Stanley set a $9.25 price target on Vivid Seats and gave the stock an “equal weight” rating in a research note on Wednesday, June 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a research note on Tuesday, June 9th.

Vivid Seats Stock Performance

Vivid Seats stock opened at $7.57 on Tuesday. The firm has a market cap of $81.53 million, a PE ratio of -0.11 and a beta of 1.11. The firm’s 50 day moving average price is $7.61 and its two-hundred day moving average price is $7.12. Vivid Seats has a twelve month low of $5.06 and a twelve month high of $35.00.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, May 5th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.32). Vivid Seats had a positive return on equity of 68.65% and a negative net margin of 82.25%.The company had revenue of $125.78 million during the quarter, compared to analysts’ expectations of $124.55 million. Equities analysts anticipate that Vivid Seats will post -4.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sun Life Financial Inc. bought a new stake in Vivid Seats in the fourth quarter worth $3,213,000. Caption Management LLC raised its holdings in Vivid Seats by 1,470.9% during the second quarter. Caption Management LLC now owns 250,472 shares of the company’s stock valued at $423,000 after buying an additional 234,528 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Vivid Seats by 10.7% during the second quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company’s stock valued at $3,756,000 after buying an additional 215,057 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Vivid Seats by 106.8% in the second quarter. Rhumbline Advisers now owns 203,271 shares of the company’s stock worth $344,000 after buying an additional 104,972 shares during the last quarter. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of Vivid Seats in the fourth quarter worth about $595,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Company Profile

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.