Vivid Seats (NASDAQ:SEAT) Receives Neutral Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Vivid Seats (NASDAQ:SEAT) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $4.00 price objective on the stock, down from their previous price objective of $5.00.

Other equities research analysts also recently issued reports about the company. Maxim Group cut their price target on Vivid Seats from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Benchmark cut their target price on shares of Vivid Seats from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Royal Bank of Canada decreased their price target on shares of Vivid Seats from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. DA Davidson cut their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Vivid Seats from $4.50 to $4.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.78.

Vivid Seats Stock Performance

Shares of SEAT stock traded down $0.17 during trading hours on Friday, reaching $3.58. The company had a trading volume of 1,191,278 shares, compared to its average volume of 803,505. The firm has a market cap of $743.89 million, a PE ratio of 7.47, a price-to-earnings-growth ratio of 17.60 and a beta of 1.18. The business has a fifty day moving average price of $3.97 and a 200-day moving average price of $4.69. Vivid Seats has a one year low of $3.36 and a one year high of $8.80. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.73 and a current ratio of 0.79.

Vivid Seats (NASDAQ:SEAT) last announced its earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The company had revenue of $198.32 million for the quarter, compared to analysts’ expectations of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Sell-side analysts predict that Vivid Seats will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SEAT. Massachusetts Financial Services Co. MA raised its stake in Vivid Seats by 1.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,371,128 shares of the company’s stock worth $25,134,000 after buying an additional 77,983 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Vivid Seats by 10.4% in the 1st quarter. Vanguard Group Inc. now owns 4,336,578 shares of the company’s stock worth $25,976,000 after acquiring an additional 410,243 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Vivid Seats by 10.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,979,885 shares of the company’s stock worth $17,849,000 after purchasing an additional 273,734 shares during the last quarter. Anson Funds Management LP boosted its position in Vivid Seats by 66.5% during the first quarter. Anson Funds Management LP now owns 2,695,424 shares of the company’s stock valued at $16,146,000 after purchasing an additional 1,076,271 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in Vivid Seats by 180.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,613,619 shares of the company’s stock valued at $9,670,000 after purchasing an additional 1,680,327 shares during the last quarter. Hedge funds and other institutional investors 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.