Vivid Seats (NASDAQ:SEAT) PT Lowered to $10.00 at Benchmark

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by Benchmark from $15.00 to $10.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently issued reports on SEAT. Piper Sandler dropped their price target on shares of Vivid Seats from $7.00 to $5.00 and set a neutral rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price target on shares of Vivid Seats from $8.00 to $7.00 and set a sector perform rating for the company in a research note on Wednesday, August 7th. DA Davidson reiterated a buy rating and set a $6.50 price objective on shares of Vivid Seats in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Vivid Seats from $5.50 to $4.50 and set a hold rating for the company in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Vivid Seats currently has an average rating of Moderate Buy and an average target price of $7.06.

Vivid Seats Price Performance

Shares of NASDAQ:SEAT opened at $3.98 on Tuesday. The company has a market cap of $828.16 million, a price-to-earnings ratio of 7.41, a PEG ratio of 15.64 and a beta of 1.22. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.79 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $4.69 and a 200 day simple moving average of $5.22. Vivid Seats has a one year low of $3.58 and a one year high of $8.80.

Vivid Seats (NASDAQ:SEAT) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.08). The business had revenue of $198.32 million for the quarter, compared to the consensus estimate of $194.68 million. Vivid Seats had a net margin of 4.73% and a return on equity of 57.44%. During the same period in the previous year, the business posted $0.20 EPS. Research analysts predict that Vivid Seats will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vivid Seats

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock worth $45,000 after purchasing an additional 5,594 shares during the period. Principal Financial Group Inc. acquired a new stake in Vivid Seats in the second quarter worth $61,000. Marshall Wace LLP acquired a new stake in Vivid Seats in the second quarter worth $67,000. Entropy Technologies LP acquired a new position in shares of Vivid Seats during the first quarter valued at about $101,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Vivid Seats by 259.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 20,683 shares of the company’s stock valued at $124,000 after buying an additional 14,927 shares during the last quarter. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.