Vivid Seats Inc. (NASDAQ:SEAT) Receives $9.86 Consensus Target Price from Brokerages

Vivid Seats Inc. (NASDAQ:SEAT) has been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.86.

Several research firms have weighed in on SEAT. Maxim Group upped their price target on Vivid Seats from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. DA Davidson reiterated a “buy” rating and issued a $7.00 price target on shares of Vivid Seats in a report on Friday, June 21st. Benchmark reissued a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a report on Wednesday, May 1st. Finally, Canaccord Genuity Group reduced their target price on Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th.

Vivid Seats Stock Down 2.2 %

SEAT opened at $5.44 on Monday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 3.34 and a beta of 1.22. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57. The firm’s fifty day moving average is $5.29 and its 200 day moving average is $5.65. Vivid Seats has a fifty-two week low of $4.70 and a fifty-two week high of $8.80.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $190.85 million for the quarter, compared to the consensus estimate of $181.56 million. Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. On average, sell-side analysts forecast that Vivid Seats will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Several large investors have recently modified their holdings of the stock. Graham Capital Management L.P. bought a new position in Vivid Seats during the third quarter valued at $254,000. Exchange Traded Concepts LLC grew its holdings in Vivid Seats by 54.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 42,869 shares of the company’s stock valued at $271,000 after purchasing an additional 15,179 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Vivid Seats in the 4th quarter worth about $65,000. Raymond James & Associates bought a new stake in Vivid Seats in the fourth quarter worth about $172,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Vivid Seats by 129.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,609 shares of the company’s stock valued at $143,000 after buying an additional 12,758 shares during the period. 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.