Maxim Group Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $8.00

Vivid Seats (NASDAQ:SEAT) had its target price trimmed by Maxim Group from $9.00 to $8.00 in a research report released on Monday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other research firms have also weighed in on SEAT. Canaccord Genuity Group reduced their price target 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. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Citigroup reduced their price objective on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, September 20th. Craig Hallum lowered their target price on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Piper Sandler decreased their price objective on Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.11.

Vivid Seats Stock Performance

Shares of SEAT stock opened at $4.11 on Monday. 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 firm has a fifty day simple moving average of $4.01 and a two-hundred day simple moving average of $4.71. Vivid Seats has a 12 month low of $3.36 and a 12 month high of $8.80. The firm has a market capitalization of $855.21 million, a PE ratio of 7.25, a price-to-earnings-growth ratio of 16.22 and a beta of 1.18.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $0.20 EPS. Analysts forecast that Vivid Seats will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearline Capital LP increased its holdings in Vivid Seats by 105.6% during the 2nd 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 raised its position in shares of Vivid Seats by 10.1% in the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after buying an additional 273,734 shares in the last quarter. Clearbridge Investments LLC boosted its stake 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 buying an additional 301,623 shares during the period. Swiss National Bank grew its position in Vivid Seats by 14.0% during the first quarter. Swiss National Bank now owns 132,100 shares of the company’s stock worth $791,000 after buying an additional 16,200 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased 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 acquiring an additional 1,680,327 shares during the last quarter. 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.