Vivid Seats (NASDAQ:SEAT) Price Target Cut to $7.00 by Analysts at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective cut by Canaccord Genuity Group from $8.00 to $7.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

SEAT has been the topic of several other research reports. 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. Benchmark decreased their price target on shares of Vivid Seats from $15.00 to $10.00 and set a buy rating for the company in a research note on Tuesday. Piper Sandler dropped their price target on Vivid Seats from $7.00 to $5.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price objective 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, Craig Hallum lowered their target price on Vivid Seats from $10.00 to $8.00 and set a buy rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Vivid Seats presently has a consensus rating of Moderate Buy and an average price target of $7.06.

Vivid Seats Stock Down 2.8 %

SEAT stock opened at $3.96 on Thursday. The business’s 50-day moving average price is $4.72 and its 200-day moving average price is $5.23. 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 has a twelve month low of $3.58 and a twelve month high of $8.80.

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

Hedge Funds Weigh In On Vivid Seats

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings 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 Vivid Seats during the 2nd quarter worth $61,000. Marshall Wace LLP purchased a new position in Vivid Seats during the 2nd quarter worth $67,000. Entropy Technologies LP purchased a new stake in Vivid Seats in the first quarter valued at about $101,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Vivid Seats by 259.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after acquiring an additional 14,927 shares in the last quarter. 39.92% of the stock is owned by hedge funds and other institutional investors.

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.