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

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its target price lowered by equities research analysts at Canaccord Genuity Group from $5.00 to $4.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price would suggest a potential upside of 104.60% from the stock's current price.

SEAT has been the topic of a number of other research reports. Benchmark dropped their price target on Vivid Seats from $8.00 to $6.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. William Blair lowered Vivid Seats from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 6th. Bank of America restated an "underperform" rating and issued a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research note on Thursday, March 13th. Morgan Stanley decreased their target price on 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. Finally, Raymond James lowered Vivid Seats from a "moderate buy" rating to a "hold" rating in a research 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 assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $4.49.

Vivid Seats Price Performance

Vivid Seats stock traded up $0.17 during trading on Wednesday, hitting $1.96. 1,198,640 shares of the company were exchanged, compared to its average volume of 1,464,490. The business's 50 day moving average is $2.78 and its 200 day moving average is $3.61. Vivid Seats has a 52 week low of $1.66 and a 52 week high of $5.90. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 1.17.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) 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 company had revenue of $164.02 million for the quarter, compared to the consensus estimate of $169.99 million. As a group, equities analysts expect that Vivid Seats will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in SEAT. SG Americas Securities LLC boosted its position in Vivid Seats by 8.5% during the 4th quarter. SG Americas Securities LLC now owns 37,065 shares of the company's stock valued at $172,000 after acquiring an additional 2,909 shares in the last quarter. Plan Group Financial LLC boosted its position in Vivid Seats by 9.4% during the 4th quarter. Plan Group Financial LLC now owns 35,330 shares of the company's stock valued at $164,000 after acquiring an additional 3,048 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Vivid Seats by 17.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,251 shares of the company's stock valued at $136,000 after acquiring an additional 4,288 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Vivid Seats by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 741,722 shares of the company's stock valued at $3,434,000 after acquiring an additional 5,828 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Vivid Seats by 9.6% during the 4th quarter. American Century Companies Inc. now owns 96,396 shares of the company's stock valued at $446,000 after acquiring an additional 8,450 shares in the last quarter. 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.