Vivid Seats Inc. (NASDAQ:SEAT) Receives Average Recommendation of “Moderate Buy” from Analysts

Vivid Seats Inc. (NASDAQ:SEAT) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.89.

A number of equities analysts recently weighed in on the company. Maxim Group raised their price objective on Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. DA Davidson reissued a “buy” rating and set a $7.00 price objective on shares of Vivid Seats in a report on Friday, June 21st. Canaccord Genuity Group decreased their price objective on Vivid Seats from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, Benchmark reissued a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a report on Tuesday, July 30th.

Hedge Funds Weigh In On Vivid Seats

Several hedge funds have recently made changes to their positions in SEAT. SG Americas Securities LLC purchased a new position in shares of Vivid Seats during the fourth quarter valued at approximately $65,000. Raymond James & Associates purchased a new position in shares of Vivid Seats during the fourth quarter valued at approximately $172,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Vivid Seats by 129.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,609 shares of the company’s stock valued at $143,000 after buying an additional 12,758 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of Vivid Seats by 84.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after buying an additional 2,090 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Vivid Seats during the fourth quarter valued at approximately $726,000. 39.92% of the stock is owned by hedge funds and other institutional investors.

Vivid Seats Stock Performance

Shares of SEAT opened at $4.29 on Friday. The company has a market cap of $890.83 million, a PE ratio of 8.40, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $5.21 and a 200-day moving average price of $5.52. Vivid Seats has a 12-month low of $3.96 and a 12-month high of $8.80.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $190.85 million for the quarter, compared to analysts’ expectations of $181.56 million. Vivid Seats had a net margin of 9.21% and a negative return on equity of 170.34%. As a group, equities analysts forecast that Vivid Seats will post 0.26 earnings per share for the current fiscal year.

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.