Vivid Seats (NASDAQ:SEAT) Price Target Cut to $8.00 by Analysts at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price target lowered by analysts at Benchmark from $10.00 to $8.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would suggest a potential upside of 118.58% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Craig Hallum cut their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Citigroup reduced their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Piper Sandler reissued a “neutral” rating and set a $4.00 target price (down previously from $5.00) on shares of Vivid Seats in a research note on Friday. DA Davidson reduced their price target on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Canaccord Genuity Group lowered their price objective on shares of Vivid Seats from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Vivid Seats has a consensus rating of “Moderate Buy” and an average target price of $6.78.

Vivid Seats Stock Performance

Shares of Vivid Seats stock traded down $0.08 during trading on Friday, hitting $3.66. 91,328 shares of the stock were exchanged, compared to its average volume of 1,389,421. Vivid Seats has a 1-year low of $3.36 and a 1-year 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. The stock has a market capitalization of $761.58 million, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 16.22 and a beta of 1.18. The company has a fifty day moving average price of $3.99 and a 200-day moving average price of $4.70.

Vivid Seats (NASDAQ:SEAT) last posted 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 net margin of 4.73% and a return on equity of 57.44%. The business had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same quarter last year, the company posted $0.20 EPS. As a group, equities analysts predict that Vivid Seats will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Clearline Capital LP lifted its holdings in Vivid Seats by 105.6% during the second quarter. Clearline Capital LP now owns 770,798 shares of the company’s stock worth $4,432,000 after acquiring an additional 395,942 shares during the period. Janus Henderson Group PLC boosted its stake in Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock valued at $17,849,000 after acquiring an additional 273,734 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Vivid Seats by 17.6% during the 1st quarter. Clearbridge Investments LLC now owns 2,012,878 shares of the company’s stock worth $12,057,000 after purchasing an additional 301,623 shares during the last quarter. Swiss National Bank boosted its position in shares of Vivid Seats by 14.0% during the 1st quarter. Swiss National Bank now owns 132,100 shares of the company’s stock valued at $791,000 after acquiring an additional 16,200 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Vivid Seats by 180.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock worth $9,670,000 after buying an additional 1,680,327 shares in the last quarter. Hedge funds and other 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.