Vivid Seats (NASDAQ:SEAT) Price Target Cut to $9.00 by Analysts at Citigroup

Vivid Seats (NASDAQ:SEAT) had its price target lowered by equities researchers at Citigroup from $10.00 to $9.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 143.90% from the stock’s current price.

A number of other research firms also recently weighed in on SEAT. Royal Bank of Canada decreased their price objective on Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Piper Sandler decreased 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 report on Wednesday, August 7th. Craig Hallum cut their price target on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Finally, DA Davidson lowered their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Vivid Seats has an average rating of “Moderate Buy” and an average target price of $7.28.

Vivid Seats Stock Performance

NASDAQ SEAT opened at $3.69 on Friday. Vivid Seats has a fifty-two week low of $3.58 and a fifty-two week high of $8.80. The stock has a market cap of $766.24 million, a PE ratio of 7.60, a PEG ratio of 15.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79. The firm’s fifty day moving average price is $4.51 and its two-hundred day moving average price is $5.14.

Vivid Seats (NASDAQ:SEAT) last announced 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 firm had revenue of $198.32 million for the quarter, compared to analyst estimates of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same period in the previous year, the business posted $0.20 earnings per share. On average, equities analysts expect that Vivid Seats will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of Vivid Seats by 301.6% during 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 in the last quarter. Principal Financial Group Inc. bought a new position in shares of Vivid Seats in the second quarter valued at $61,000. Marshall Wace LLP acquired a new position in shares of Vivid Seats during the second quarter valued at about $67,000. Entropy Technologies LP bought a new stake in shares of Vivid Seats during the first quarter worth about $101,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Vivid Seats by 259.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock worth $124,000 after acquiring an additional 14,927 shares during the last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.

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.