DA Davidson Reaffirms “Buy” Rating for Vivid Seats (NASDAQ:SEAT)

DA Davidson restated their buy rating on shares of Vivid Seats (NASDAQ:SEAT) in a report issued on Friday morning, Benzinga reports. DA Davidson currently has a $7.00 target price on the stock.

Several other research analysts have also issued reports on SEAT. 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 research report on Wednesday, May 8th. Maxim Group lifted their target price on Vivid Seats from $7.00 to $9.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Royal Bank of Canada dropped their price target on Vivid Seats from $10.00 to $8.00 and set a sector perform rating on the stock in a research report on Wednesday, March 6th. Finally, Benchmark reiterated a buy rating and set a $15.00 target price on shares of Vivid Seats in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $9.86.

Vivid Seats Stock Performance

Shares of SEAT stock opened at $5.37 on Friday. The stock has a fifty day moving average of $5.36 and a 200 day moving average of $5.77. Vivid Seats has a 52 week low of $4.70 and a 52 week high of $8.80. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 3.24 and a beta of 1.20. The company has a quick ratio of 0.51, a current ratio of 0.57 and a debt-to-equity ratio of 1.89.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, May 7th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $190.85 million during the quarter, compared to analysts’ expectations of $181.56 million. Vivid Seats had a negative return on equity of 170.34% and a net margin of 9.21%. As a group, research analysts expect that Vivid Seats will post 0.26 earnings per share for the current year.

Institutional Trading of Vivid Seats

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners grew its stake in shares of Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after purchasing an additional 1,949,891 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Vivid Seats in the fourth quarter worth $10,815,000. Invenomic Capital Management LP raised its holdings in shares of Vivid Seats by 289.4% during the first quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after acquiring an additional 1,143,870 shares during the period. Anson Funds Management LP raised its holdings in shares of Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after acquiring an additional 1,076,271 shares during the period. Finally, First Sabrepoint Capital Management LP acquired a new stake in shares of Vivid Seats during the first quarter worth $5,690,000. Institutional investors own 39.92% of the company’s stock.

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.