Vivid Seats (NASDAQ:SEAT) Price Target Cut to $10.00

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its price target cut by equities research analysts at Canaccord Genuity Group from $12.00 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 86.92% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Maxim Group increased their target price on Vivid Seats from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday. Craig Hallum initiated coverage on shares of Vivid Seats in a research note on Friday, February 9th. They set a "buy" rating and a $10.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of Vivid Seats from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Wednesday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and set a $15.00 price target on shares of Vivid Seats in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.15.

Vivid Seats Stock Down 1.1 %

NASDAQ SEAT traded down $0.06 during trading hours on Wednesday, hitting $5.35. The company had a trading volume of 1,850,905 shares, compared to its average volume of 1,544,833. The firm's 50 day moving average is $5.70 and its 200 day moving average is $6.23. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.50 and a quick ratio of 0.46. Vivid Seats has a fifty-two week low of $5.11 and a fifty-two week high of $9.89. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 2.63 and a beta of 1.23.

Hedge Funds Weigh In On Vivid Seats

Several large investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Vivid Seats in the 3rd quarter valued at approximately $37,000. SG Americas Securities LLC acquired a new stake in shares of Vivid Seats during the 4th quarter valued at approximately $65,000. Tower Research Capital LLC TRC lifted its stake in Vivid Seats by 417.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company's stock worth $71,000 after purchasing an additional 9,121 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Vivid Seats during the third quarter worth $84,000. Institutional investors own 39.92% of the company's stock.

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.