Vivid Seats (NASDAQ:SEAT) Price Target Lowered to $7.00 at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective decreased by Canaccord Genuity Group from $8.00 to $7.00 in a research report sent to investors on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on SEAT. Craig Hallum decreased their target price on shares of Vivid Seats from $10.00 to $8.00 and set a buy rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Vivid Seats from $5.50 to $4.50 and set a hold rating for the company in a report on Monday, August 12th. DA Davidson lowered their price objective on Vivid Seats from $6.50 to $6.00 and set a buy rating on the stock in a research report on Thursday. Piper Sandler reduced their target price on Vivid Seats from $7.00 to $5.00 and set a neutral rating for the company in a report on Wednesday, August 7th. Finally, Benchmark lowered their price target on Vivid Seats from $15.00 to $10.00 and set a buy rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $7.06.

Vivid Seats Stock Down 2.8 %

Shares of SEAT opened at $3.96 on Thursday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The business’s 50 day moving average price is $4.72 and its 200-day moving average price is $5.23. Vivid Seats has a 52 week low of $3.58 and a 52 week high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released its earnings results on Tuesday, August 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Vivid Seats had a return on equity of 57.44% and a net margin of 4.73%. The company had revenue of $198.32 million during the quarter, compared to the consensus estimate of $194.68 million. During the same period last year, the firm posted $0.20 earnings per share. On average, equities analysts predict that Vivid Seats will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Vivid Seats

Institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. lifted its holdings in Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after acquiring an additional 5,594 shares during the period. Principal Financial Group Inc. bought a new position in shares of Vivid Seats in the 2nd quarter worth approximately $61,000. Marshall Wace LLP bought a new position in shares of Vivid Seats in the 2nd quarter worth approximately $67,000. Entropy Technologies LP purchased a new position in shares of Vivid Seats in the first quarter worth approximately $101,000. Finally, DekaBank Deutsche Girozentrale grew its position in Vivid Seats by 259.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after buying an additional 14,927 shares during the period. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

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.