Vivid Seats (NASDAQ:SEAT) Price Target Raised to $16.00

Vivid Seats (NASDAQ:SEAT) had its price target boosted by Benchmark from $10.00 to $16.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on SEAT. Weiss Ratings reissued a “sell (e+)” rating on shares of Vivid Seats in a report on Tuesday, June 9th. Wall Street Zen raised Vivid Seats from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research upgraded Vivid Seats from a “strong sell” rating to a “hold” rating in a research report on Friday, April 10th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price objective (up from $8.00) on shares of Vivid Seats in a research report on Wednesday. Finally, Morgan Stanley set a $9.25 target price on shares of Vivid Seats and gave the company an “equal weight” rating in a research note on Wednesday, June 10th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.21.

Vivid Seats Trading Down 3.6%

Vivid Seats stock opened at $7.60 on Wednesday. Vivid Seats has a 1-year low of $5.06 and a 1-year high of $18.73. The firm has a market capitalization of $81.85 million, a price-to-earnings ratio of -0.17 and a beta of 1.08. The firm has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $7.18.

Vivid Seats (NASDAQ:SEAT) last issued its earnings results on Tuesday, August 4th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.28). The business had revenue of $129.86 million for the quarter, compared to the consensus estimate of $122.11 million. Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. On average, equities research analysts forecast that Vivid Seats will post -4.44 EPS for the current year.

Institutional Trading of Vivid Seats

Several hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its position in shares of Vivid Seats by 270.0% during the 4th quarter. Deutsche Bank AG now owns 10,774 shares of the company’s stock valued at $78,000 after acquiring an additional 7,862 shares during the period. First Trust Advisors LP raised its holdings in Vivid Seats by 2.7% in the 2nd quarter. First Trust Advisors LP now owns 297,688 shares of the company’s stock worth $503,000 after purchasing an additional 7,940 shares during the period. Jain Global LLC purchased a new position in Vivid Seats during the fourth quarter valued at $97,000. Goldman Sachs Group Inc. grew its holdings in Vivid Seats by 44.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 51,842 shares of the company’s stock valued at $374,000 after purchasing an additional 15,848 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in Vivid Seats in the fourth quarter worth about $135,000. 39.92% of the stock is owned by institutional investors.

Vivid Seats Company Profile

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.