Craig Hallum Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $8.00

Vivid Seats (NASDAQ:SEAT) had its price objective cut by stock analysts at Craig Hallum from $10.00 to $8.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 68.78% from the company’s current price.

Other equities research analysts have also issued reports about the company. Benchmark decreased their price target on Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada reduced their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Piper Sandler reduced 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. DA Davidson reaffirmed a “buy” rating and set a $6.50 price objective on shares of Vivid Seats in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Vivid Seats Stock Up 2.6 %

SEAT stock opened at $4.74 on Tuesday. Vivid Seats has a 1-year low of $3.58 and a 1-year high of $8.80. The business’s 50 day moving average is $4.78 and its 200-day moving average is $5.26. 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 (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The business had revenue of $198.32 million for the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. During the same quarter last year, the company earned $0.20 earnings per share. On average, sell-side analysts expect that Vivid Seats will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. lifted its stake in shares of Vivid Seats by 301.6% in 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 period. Principal Financial Group Inc. acquired a new stake in Vivid Seats during the 2nd quarter worth $61,000. Marshall Wace LLP bought a new position in Vivid Seats during the second quarter worth about $67,000. Entropy Technologies LP bought a new position in Vivid Seats during the first quarter worth about $101,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Vivid Seats by 259.3% during 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. Institutional investors and hedge funds 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.