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

Vivid Seats (NASDAQ:SEAT) had its price objective dropped by equities research analysts at Benchmark from $15.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 110.97% from the stock’s previous close.

Other analysts have also issued reports about the stock. DA Davidson restated a “buy” rating and set a $6.50 price target on shares of Vivid Seats in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Royal Bank of Canada dropped their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, Piper Sandler decreased their target price on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Vivid Seats currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Vivid Seats Price Performance

Shares of NASDAQ SEAT opened at $4.74 on Tuesday. The stock’s 50-day moving average is $4.78 and its 200 day moving average is $5.26. Vivid Seats has a 1-year low of $3.58 and a 1-year high of $8.80. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73.

Vivid Seats (NASDAQ:SEAT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The business had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. During the same period last year, the business posted $0.20 earnings per share. On average, equities research analysts expect that Vivid Seats will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vivid Seats

Hedge funds have recently made changes to their positions in the business. Boston Partners increased its position in Vivid Seats by 118.3% during the 4th quarter. Boston Partners now owns 3,597,970 shares of the company’s stock valued at $22,626,000 after purchasing an additional 1,949,891 shares during the period. Clearbridge Investments LLC bought a new stake in Vivid Seats during the 4th quarter valued at approximately $10,815,000. Invenomic Capital Management LP grew its holdings in shares of Vivid Seats by 289.4% during the 1st quarter. Invenomic Capital Management LP now owns 1,539,194 shares of the company’s stock worth $9,220,000 after acquiring an additional 1,143,870 shares during the period. Anson Funds Management LP raised its position in shares of Vivid Seats by 66.5% in the 1st quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock worth $16,146,000 after acquiring an additional 1,076,271 shares in the last quarter. Finally, First Sabrepoint Capital Management LP purchased a new position in shares of Vivid Seats in the 1st quarter valued at approximately $5,690,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.