Vivid Seats (NASDAQ:SEAT) Price Target Cut to $7.00 by Analysts at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective reduced by Canaccord Genuity Group from $8.00 to $7.00 in a research note issued to investors on Thursday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

SEAT has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a sector perform rating on the stock in a research report on Wednesday, August 7th. Benchmark lowered their price target on shares of Vivid Seats from $15.00 to $10.00 and set a buy rating on the stock in a report on Tuesday, September 10th. 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, August 7th. Craig Hallum dropped their target price on Vivid Seats from $10.00 to $8.00 and set a buy rating on the stock in a research report on Tuesday, September 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Vivid Seats from $5.50 to $4.50 and set a hold rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Vivid Seats has an average rating of Moderate Buy and a consensus target price of $7.06.

Vivid Seats Trading Up 0.5 %

Vivid Seats stock opened at $3.98 on Thursday. The company has a 50 day moving average price of $4.66 and a 200 day moving average price of $5.20. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. Vivid Seats has a 52 week low of $3.58 and a 52 week high of $8.80. The firm has a market capitalization of $826.45 million, a price-to-earnings ratio of 7.20, a P/E/G ratio of 15.64 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same quarter in the prior year, the firm posted $0.20 EPS. Research analysts forecast that Vivid Seats will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Vivid Seats

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEAT. Sanctuary Advisors LLC bought a new position in shares of Vivid Seats in the second quarter valued at approximately $259,000. Clearline Capital LP grew its stake in Vivid Seats by 105.6% in the 2nd quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock valued at $4,432,000 after buying an additional 395,942 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Vivid Seats by 57.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,898 shares of the company’s stock worth $178,000 after acquiring an additional 11,274 shares during the period. AQR Capital Management LLC lifted its position in Vivid Seats by 88.9% during the 2nd quarter. AQR Capital Management LLC now owns 126,114 shares of the company’s stock worth $725,000 after acquiring an additional 59,352 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Vivid Seats during the second quarter valued at about $67,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.