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

Vivid Seats (NASDAQ:SEAT) posted 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 negative return on equity of 170.34% and a net margin of 9.21%. The firm had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Vivid Seats updated its FY 2024 guidance to EPS.

Vivid Seats Stock Down 13.3 %

Shares of Vivid Seats stock traded down $0.57 during midday trading on Wednesday, hitting $3.72. The company had a trading volume of 3,486,759 shares, compared to its average volume of 1,450,979. The company has a 50 day moving average of $5.19 and a 200 day moving average of $5.50. The stock has a market capitalization of $772.47 million, a P/E ratio of 8.40, a P/E/G ratio of 2.84 and a beta of 1.23. Vivid Seats has a 52-week low of $3.71 and a 52-week high of $8.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.51 and a current ratio of 0.57.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SEAT. DA Davidson reissued a “buy” rating and set a $7.00 target price on shares of Vivid Seats in a research note on Friday, June 21st. Canaccord Genuity Group reduced their price objective on shares of Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Piper Sandler dropped 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 report on Wednesday. Maxim Group boosted their price target on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark reissued a “buy” rating and issued a $15.00 price target on shares of Vivid Seats in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Vivid Seats has a consensus rating of “Moderate Buy” and an average 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.