Craig Hallum Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $8.00

Vivid Seats (NASDAQ:SEAT) had its price objective cut by analysts at Craig Hallum from $10.00 to $8.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price points to a potential upside of 68.78% from the stock’s current price.

A number of other analysts have also recently weighed in on SEAT. Royal Bank of Canada reduced their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Piper Sandler cut 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. DA Davidson reissued a “buy” rating and set a $6.50 price objective on shares of Vivid Seats in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Vivid Seats from $5.50 to $4.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Benchmark cut their price objective on Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Vivid Seats Trading Up 2.6 %

Shares of NASDAQ:SEAT opened at $4.74 on Tuesday. Vivid Seats has a fifty-two week low of $3.58 and a fifty-two week high of $8.80. The business has a 50-day moving average of $4.78 and a two-hundred day moving average of $5.26. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 2.48.

Vivid Seats (NASDAQ:SEAT) last announced 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). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The company had revenue of $198.32 million during the quarter, compared to analyst estimates of $194.68 million. During the same period in the prior year, the firm earned $0.20 EPS. On average, research analysts anticipate that Vivid Seats will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Vivid Seats

Large investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its holdings in Vivid Seats by 301.6% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after acquiring an additional 5,594 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Vivid Seats in the 2nd quarter valued at approximately $61,000. Marshall Wace LLP bought a new stake in shares of Vivid Seats in the 2nd quarter valued at approximately $67,000. Entropy Technologies LP bought a new stake in shares of Vivid Seats in the 1st quarter valued at approximately $101,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after purchasing an additional 14,927 shares during the period. Institutional investors and hedge funds 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.