Vivid Seats (NASDAQ:SEAT) PT Lowered to $9.00

Vivid Seats (NASDAQ:SEAT) had its target price dropped by Citigroup from $10.00 to $9.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 143.90% from the stock’s current price.

A number of other research analysts have also commented on the stock. Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Benchmark decreased their target price on Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Craig Hallum dropped their price target on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Piper Sandler decreased their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, DA Davidson lowered their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.28.

Vivid Seats Stock Down 4.4 %

Vivid Seats stock opened at $3.69 on Friday. 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 has a 1-year low of $3.58 and a 1-year high of $8.80. The company has a fifty day simple moving average of $4.51 and a 200 day simple moving average of $5.14. The company has a market cap of $766.24 million, a P/E ratio of 7.60, a price-to-earnings-growth ratio of 15.64 and a beta of 1.22.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $194.68 million. During the same quarter in the prior year, the company earned $0.20 EPS. Research analysts anticipate that Vivid Seats will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in Vivid Seats by 1.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock worth $25,134,000 after purchasing an additional 77,983 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Vivid Seats by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after acquiring an additional 410,243 shares during the period. Janus Henderson Group PLC boosted its position in shares of Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after acquiring an additional 273,734 shares in the last quarter. Anson Funds Management LP increased its stake in Vivid Seats by 66.5% in the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after acquiring an additional 1,076,271 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Vivid Seats by 17.6% during the first quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock valued at $12,057,000 after purchasing an additional 301,623 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.