Vivid Seats (NASDAQ:SEAT) Issues Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Vivid Seats (NASDAQ:SEAT) released its quarterly earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08), Zacks reports. Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. The business had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter last year, the business posted $0.20 earnings per share. Vivid Seats updated its FY 2024 guidance to EPS.

Vivid Seats Stock Performance

SEAT stock traded down $0.57 during midday trading on Wednesday, hitting $3.72. 2,493,105 shares of the stock traded hands, compared to its average volume of 1,444,395. The stock’s fifty day simple moving average is $5.21 and its 200-day simple moving average is $5.52. The firm has a market cap of $772.47 million, a P/E ratio of 8.40, a PEG ratio of 2.84 and a beta of 1.23. Vivid Seats has a 1-year low of $3.72 and a 1-year high of $8.80. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.57 and a quick ratio of 0.51.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SEAT. Piper Sandler lowered their target price on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday. Benchmark reissued a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research report on Tuesday, July 30th. Royal Bank of Canada dropped their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday. 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. Finally, Maxim Group lifted their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.30.

Vivid Seats Company Profile

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.