Vivid Seats Inc. (NASDAQ:SEAT) Receives $9.43 Average PT from Brokerages

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have received an average recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.4333.

A number of analysts recently weighed in on SEAT shares. Morgan Stanley set a $9.25 price objective on Vivid Seats and gave the company an “equal weight” rating in a report on Wednesday, June 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Vivid Seats in a research report on Tuesday, June 9th. Wall Street Zen upgraded Vivid Seats from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research raised Vivid Seats from a “strong sell” rating to a “hold” rating in a research note on Friday, April 10th.

Vivid Seats Stock Performance

Shares of NASDAQ SEAT opened at $7.96 on Tuesday. Vivid Seats has a 52-week low of $5.06 and a 52-week high of $35.00. The firm has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $7.13. The stock has a market cap of $85.73 million, a P/E ratio of -0.11 and a beta of 1.08.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.32). Vivid Seats had a negative net margin of 82.25% and a positive return on equity of 68.65%. The business had revenue of $125.78 million for the quarter, compared to the consensus estimate of $124.55 million. Analysts predict that Vivid Seats will post -4.16 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Vivid Seats by 270.0% during the 4th quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock worth $78,000 after purchasing an additional 7,862 shares during the last quarter. Jain Global LLC bought a new stake in shares of Vivid Seats in the 4th quarter valued at $97,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Vivid Seats during the fourth quarter worth $135,000. Jump Financial LLC acquired a new stake in shares of Vivid Seats during the second quarter worth $32,000. Finally, Price T Rowe Associates Inc. MD bought a new position in Vivid Seats during the fourth quarter worth $139,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America’s leading ticket marketplaces.