Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $10.00 at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price target decreased by research analysts at Benchmark from $15.00 to $10.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 110.97% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the company. Royal Bank of Canada decreased their price target on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Piper Sandler lowered their target price on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, DA Davidson reaffirmed a “buy” rating and set a $6.50 price target on shares of Vivid Seats in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Vivid Seats presently has an average rating of “Moderate Buy” and an average price target of $7.75.

Vivid Seats Price Performance

NASDAQ:SEAT opened at $4.74 on Tuesday. The stock has a fifty day moving average price of $4.78 and a 200-day moving average price of $5.26. Vivid Seats has a fifty-two week low of $3.58 and a fifty-two week high of $8.80. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 2.48.

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 firm had revenue of $198.32 million for the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same period last year, the company posted $0.20 EPS. As a group, research analysts forecast that Vivid Seats will post 0.14 earnings per share for the current year.

Institutional Trading of Vivid Seats

Several institutional investors have recently modified their holdings of SEAT. Ameritas Investment Partners Inc. increased its position in shares of Vivid Seats by 301.6% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after purchasing an additional 5,594 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of Vivid Seats during the second quarter worth about $61,000. Marshall Wace LLP bought a new position in shares of Vivid Seats in the second quarter worth approximately $67,000. Entropy Technologies LP bought a new stake in Vivid Seats during the first quarter valued at approximately $101,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after buying an additional 14,927 shares in the last quarter. Institutional investors own 39.92% of the company’s stock.

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.