Vivid Seats (NASDAQ:SEAT) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

• Benchmark has raised its price target for Vivid Seats (NASDAQ:SEAT) from $3.00 to $26.00, indicating a potential upside of 19.70% from the stock's previous close.
• The stock has received varying ratings from brokerages, with a consensus rating of "Hold" and an average price target of $67.09.
• Vivid Seats reported earnings of $0.28 per share, significantly beating analysts' expectations, but its revenue fell short, totaling $143.57 million.

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its target price upped by equities researchers at Benchmark to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Benchmark's price target suggests a potential upside of 45.01% from the company's current price.

SEAT has been the topic of a number of other research reports. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $23.00 price target (down previously from $80.00) on shares of Vivid Seats in a report on Wednesday. Royal Bank Of Canada dropped their price objective on Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating on the stock in a report on Wednesday, May 7th. Craig Hallum set a $2.00 target price on Vivid Seats in a report on Tuesday. William Blair lowered shares of Vivid Seats from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 6th. Finally, Maxim Group reduced their price objective on shares of Vivid Seats from $100.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $67.09.

Vivid Seats Stock Performance

NASDAQ:SEAT traded down $7.75 during trading on Wednesday, reaching $17.93. The company's stock had a trading volume of 1,135,946 shares, compared to its average volume of 97,061. Vivid Seats has a 12 month low of $17.22 and a 12 month high of $100.00. The firm has a 50 day moving average of $33.87 and a 200-day moving average of $53.21. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.01.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.32. The company had revenue of $143.57 million during the quarter, compared to analyst estimates of $154.31 million. Vivid Seats had a negative net margin of 20.35% and a positive return on equity of 8.20%. Equities analysts forecast that Vivid Seats will post 0.12 earnings per share for the current year.

Insider Activity at Vivid Seats

In other Vivid Seats news, General Counsel Emily T. Epstein sold 723 shares of Vivid Seats stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $39.80, for a total transaction of $28,775.40. Following the transaction, the general counsel directly owned 7,559 shares of the company's stock, valued at approximately $300,848.20. This trade represents a 8.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 89.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SEAT. Quinn Opportunity Partners LLC purchased a new stake in Vivid Seats in the 4th quarter worth approximately $46,000. BNP Paribas Financial Markets bought a new position in Vivid Seats in the 4th quarter valued at approximately $53,000. Pictet Asset Management Holding SA purchased a new stake in shares of Vivid Seats during the fourth quarter valued at $55,000. Penn Capital Management Company LLC bought a new stake in shares of Vivid Seats in the fourth quarter worth approximately $56,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Vivid Seats during the fourth quarter valued at $57,000. 39.92% of the stock is owned by institutional investors.

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.