Vivid Seats (NASDAQ:SEAT) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Vivid Seats from “sell” to “hold,” while analysts overall maintain a consensus “hold” rating with an average price target of $10.21.
• SEAT opened at $7.18 and remains well below its 52-week high of $18.73; its market capitalization is approximately $77.3 million.
• The company’s latest quarterly results missed the EPS estimate, reporting a loss of $1.30 per share versus an expected loss of $1.02, though revenue of $129.86 million exceeded forecasts.

Vivid Seats (NASDAQ:SEAT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

SEAT has been the topic of a number of other research reports. Morgan Stanley set a $9.25 target price on shares of Vivid Seats and gave the company an "equal weight" rating in a report on Wednesday, June 10th. Royal Bank Of Canada restated a "sector perform" rating and issued a $9.00 price objective (up from $8.00) on shares of Vivid Seats in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Vivid Seats in a report on Tuesday, June 9th. Finally, Benchmark increased their target price on shares of Vivid Seats from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.21.

Vivid Seats Price Performance

NASDAQ SEAT opened at $7.18 on Friday. The stock has a market capitalization of $77.33 million, a P/E ratio of -0.16 and a beta of 1.08. The business has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $7.20. Vivid Seats has a one year low of $5.06 and a one year high of $18.73.

Vivid Seats (NASDAQ:SEAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.28). Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%. The business had revenue of $129.86 million during the quarter, compared to analyst estimates of $122.11 million. Equities analysts expect that Vivid Seats will post -4.44 earnings per share for the current year.

Hedge Funds Weigh In On Vivid Seats

A number of institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its position in shares of Vivid Seats by 10.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,222,751 shares of the company's stock valued at $3,756,000 after buying an additional 215,057 shares in the last quarter. Sun Life Financial Inc. bought a new stake in shares of Vivid Seats during the 4th quarter worth $3,213,000. First Trust Advisors LP grew its position in Vivid Seats by 2.7% in the second quarter. First Trust Advisors LP now owns 297,688 shares of the company's stock worth $503,000 after acquiring an additional 7,940 shares in the last quarter. Caption Management LLC grew its position in Vivid Seats by 1,470.9% in the second quarter. Caption Management LLC now owns 250,472 shares of the company's stock worth $423,000 after acquiring an additional 234,528 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Vivid Seats by 106.8% in the second quarter. Rhumbline Advisers now owns 203,271 shares of the company's stock valued at $344,000 after acquiring an additional 104,972 shares during the last quarter. Institutional investors own 39.92% of the company's stock.

About Vivid Seats

Vivid Seats, traded on NASDAQ under the ticker SEAT, operates an online ticket marketplace that connects buyers and sellers of live event tickets. The company specializes in facilitating purchases for sports games, concerts, theater productions and other entertainment experiences. Through its digital platform and mobile application, Vivid Seats offers real-time access to available tickets, transparent pricing and a 100% Buyer Guarantee, which ensures ticket authenticity and timely delivery.

Founded in 2001 and headquartered in Chicago, Illinois, Vivid Seats has grown from a regional reseller into one of North America's leading ticket marketplaces.

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