Vivid Seats (NASDAQ:SEAT) Price Target Cut to $4.00 by Analysts at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its target price cut by equities research analysts at Canaccord Genuity Group from $5.00 to $4.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 129.89% from the company's current price.

A number of other analysts have also recently issued reports on the company. William Blair cut Vivid Seats from an "outperform" rating to a "market perform" rating in a report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Vivid Seats from $6.00 to $4.00 and set a "sector perform" rating for the company in a research note on Thursday, March 13th. Morgan Stanley cut their target price on shares of Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Bank of America restated an "underperform" rating and set a $2.60 target price (down previously from $6.25) on shares of Vivid Seats in a report on Thursday, March 13th. Finally, Benchmark lowered their price target on Vivid Seats from $8.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $5.40.

Vivid Seats Trading Down 37.6 %

NASDAQ:SEAT opened at $1.74 on Wednesday. The firm's 50 day moving average is $2.92 and its two-hundred day moving average is $3.65. Vivid Seats has a fifty-two week low of $1.68 and a fifty-two week high of $6.09. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Vivid Seats had a return on equity of 21.29% and a net margin of 4.56%. The firm had revenue of $164.02 million during the quarter, compared to analysts' expectations of $169.99 million. On average, equities research analysts predict that Vivid Seats will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

A number of hedge funds have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. acquired a new stake in Vivid Seats in the fourth quarter valued at $46,000. Quinn Opportunity Partners LLC bought a new stake in shares of Vivid Seats in the 4th quarter worth about $46,000. BNP Paribas Financial Markets acquired a new stake in shares of Vivid Seats in the 4th quarter valued at about $53,000. Stoneridge Investment Partners LLC bought a new position in shares of Vivid Seats during the fourth quarter worth about $53,000. Finally, Pictet Asset Management Holding SA acquired a new position in Vivid Seats in the fourth quarter worth about $55,000. Institutional investors and hedge funds 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.

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