Vivid Seats (NASDAQ:SEAT) Announces Earnings Results

Vivid Seats (NASDAQ:SEAT) announced its earnings results on Tuesday. The company reported ($0.01) earnings per share 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 for the quarter, compared to the consensus estimate of $194.68 million. During the same period in the prior year, the business posted $0.20 EPS. Vivid Seats updated its FY 2024 guidance to EPS.

Vivid Seats Stock Performance

Vivid Seats stock traded down $0.57 during midday trading on Wednesday, reaching $3.72. 3,486,759 shares of the company traded hands, compared to its average volume of 1,450,979. Vivid Seats has a 12 month low of $3.71 and a 12 month 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. The business has a 50 day moving average of $5.19 and a two-hundred day moving average of $5.50. The firm has a market capitalization of $772.47 million, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler reduced their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday. DA Davidson restated a “buy” rating and set a $7.00 price target on shares of Vivid Seats in a report on Friday, June 21st. Benchmark reiterated a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a research note on Tuesday, July 30th. Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada decreased their target price on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.