Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $9.00 at Citigroup

Vivid Seats (NASDAQ:SEAT) had its target price trimmed by Citigroup from $10.00 to $9.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Vivid Seats from $5.50 to $4.50 and set a hold rating on the stock in a report on Monday, August 12th. Piper Sandler dropped their price target on shares of Vivid Seats from $7.00 to $5.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Craig Hallum decreased their price objective on shares of Vivid Seats from $10.00 to $8.00 and set a buy rating for the company in a report on Tuesday, September 10th. DA Davidson dropped their target price on Vivid Seats from $6.50 to $6.00 and set a buy rating on the stock in a report on Thursday, September 12th. Finally, Royal Bank of Canada decreased their price target on Vivid Seats from $8.00 to $7.00 and set a sector perform rating for the company in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Vivid Seats has an average rating of Moderate Buy and a consensus target price of $7.28.

Vivid Seats Stock Performance

SEAT stock opened at $3.61 on Friday. Vivid Seats has a 1 year low of $3.58 and a 1 year high of $8.80. The stock has a market capitalization of $749.62 million, a price-to-earnings ratio of 7.60, a PEG ratio of 15.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The stock’s fifty day moving average is $4.48 and its two-hundred day moving average is $5.13.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. The firm had revenue of $198.32 million during the quarter, compared to analyst estimates of $194.68 million. During the same quarter in the previous year, the business posted $0.20 EPS. On average, research analysts predict that Vivid Seats will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Vivid Seats

Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC purchased a new position in Vivid Seats in the 4th quarter worth about $10,815,000. Blackstone Inc. purchased a new stake in shares of Vivid Seats in the 4th quarter valued at approximately $4,424,000. HBK Investments L P acquired a new position in Vivid Seats in the 4th quarter worth approximately $4,424,000. Victory Capital Management Inc. boosted its stake in Vivid Seats by 68.4% in the 4th quarter. Victory Capital Management Inc. now owns 35,774 shares of the company’s stock worth $226,000 after purchasing an additional 14,527 shares during the period. Finally, Janus Henderson Group PLC grew its position in Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after purchasing an additional 273,734 shares in the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.