DA Davidson Lowers Vivid Seats (NASDAQ:SEAT) Price Target to $6.00

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by equities researchers at DA Davidson from $6.50 to $6.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price target indicates a potential upside of 48.15% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Benchmark cut their price target on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday. Craig Hallum decreased their price objective on Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada dropped their target price on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler reduced their price objective on shares of Vivid Seats from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Vivid Seats from $5.50 to $4.50 and set a “hold” rating on the stock in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Vivid Seats has an average rating of “Moderate Buy” and an average price target of $7.06.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT traded down $0.02 during trading on Thursday, reaching $4.05. 517,608 shares of the company traded hands, compared to its average volume of 1,459,106. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. Vivid Seats has a 52-week low of $3.58 and a 52-week high of $8.80. The firm has a 50 day simple moving average of $4.72 and a 200-day simple moving average of $5.23.

Vivid Seats (NASDAQ:SEAT) last posted 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). 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 during the quarter, compared to analysts’ expectations of $194.68 million. During the same period in the prior year, the firm posted $0.20 earnings per share. On average, analysts predict that Vivid Seats will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its stake in Vivid Seats by 1.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock worth $25,134,000 after purchasing an additional 77,983 shares during the period. Vanguard Group Inc. raised its stake in shares of Vivid Seats by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock valued at $25,976,000 after purchasing an additional 410,243 shares in the last quarter. Boston Partners lifted its position in shares of Vivid Seats by 118.3% during the fourth quarter. Boston Partners now owns 3,597,970 shares of the company’s stock worth $22,626,000 after purchasing an additional 1,949,891 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Vivid Seats by 10.1% during the first quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after purchasing an additional 273,734 shares during the period. Finally, Anson Funds Management LP lifted its holdings in Vivid Seats by 66.5% in the first 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 during the last quarter. 39.92% of the stock is currently 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.