Vivid Seats (NASDAQ:SEAT) Price Target Cut to $32.00 by Analysts at Citigroup

Key Points

• Citigroup has significantly reduced its price target for Vivid Seats (NASDAQ:SEAT) from $70.00 to $32.00, while maintaining a "buy" rating, indicating a potential upside of nearly 91% from the stock's previous close.
• Vivid Seats shares fell $1.17 to $16.76 during the trading session, with a 12-month trading range between $15.25 and $100.00.
• Following its recent earnings report, Vivid Seats posted a $0.28 EPS for the quarter, exceeding analysts’ expectations, though revenue fell short at $143.57 million compared to forecasts of $154.31 million.

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its price objective dropped by investment analysts at Citigroup from $70.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective suggests a potential upside of 90.93% from the stock's previous close.

Other analysts also recently issued reports about the company. Benchmark increased their price objective on Vivid Seats to $26.00 and gave the company a "buy" rating in a report on Wednesday. Craig Hallum set a $2.00 price objective on Vivid Seats in a report on Tuesday. William Blair downgraded Vivid Seats from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on Vivid Seats from $80.00 to $40.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Finally, Maxim Group decreased their price objective on Vivid Seats from $100.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Vivid Seats presently has an average rating of "Hold" and a consensus price target of $53.64.

Vivid Seats Price Performance

Shares of SEAT traded down $1.17 during trading hours on Friday, reaching $16.76. The stock had a trading volume of 819,237 shares, compared to its average volume of 101,887. Vivid Seats has a 12 month low of $15.25 and a 12 month high of $100.00. The company has a quick ratio of 0.70, a current ratio of 0.77 and a debt-to-equity ratio of 1.01. The company's 50-day moving average is $33.87 and its two-hundred day moving average is $53.21.

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

Insider Buying and Selling

In other Vivid Seats news, General Counsel Emily T. Epstein sold 723 shares of the company's stock in a transaction 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 sale, the general counsel owned 7,559 shares of the company's stock, valued at approximately $300,848.20. This represents a 8.73% decrease in their ownership of the stock. The sale 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 Trading of Vivid Seats

A number of institutional investors have recently bought and sold shares of SEAT. Emeth Value Capital LLC grew its stake in shares of Vivid Seats by 27.4% in the 2nd quarter. Emeth Value Capital LLC now owns 7,642,042 shares of the company's stock valued at $12,915,000 after buying an additional 1,644,188 shares during the period. Vanguard Group Inc. grew its stake in shares of Vivid Seats by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 4,897,627 shares of the company's stock valued at $22,676,000 after buying an additional 22,285 shares during the period. Boston Partners grew its stake in shares of Vivid Seats by 152.9% in the 1st quarter. Boston Partners now owns 4,461,831 shares of the company's stock valued at $13,202,000 after buying an additional 2,697,796 shares during the period. Geode Capital Management LLC grew its stake in shares of Vivid Seats by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,008,228 shares of the company's stock valued at $9,301,000 after buying an additional 33,181 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Vivid Seats by 18.4% in the 4th quarter. Ameriprise Financial Inc. now owns 1,954,794 shares of the company's stock valued at $9,051,000 after buying an additional 303,878 shares during the period. Institutional investors own 39.92% of the company's stock.

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.

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