Brokerages Set Vivid Seats Inc. (NASDAQ:SEAT) Target Price at $9.94

Vivid Seats Inc. (NASDAQ:SEAT) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $9.94.

Several brokerages have issued reports on SEAT. Maxim Group began coverage on Vivid Seats in a research note on Wednesday, April 17th. They issued a “buy” rating and a $7.00 target price on the stock. Benchmark restated a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, March 6th. Craig Hallum began coverage on Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th.

Hedge Funds Weigh In On Vivid Seats

Hedge funds have recently made changes to their positions in the stock. Parkside Financial Bank & Trust raised its holdings in shares of Vivid Seats by 84.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,557 shares of the company’s stock valued at $29,000 after acquiring an additional 2,090 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Vivid Seats during the third quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Vivid Seats during the fourth quarter valued at approximately $65,000. Tower Research Capital LLC TRC lifted its position in Vivid Seats by 417.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after purchasing an additional 9,121 shares during the last quarter. Finally, AXQ Capital LP bought a new stake in Vivid Seats during the third quarter valued at approximately $84,000. 39.92% of the stock is currently owned by hedge funds and other institutional investors.

Vivid Seats Stock Performance

Shares of Vivid Seats stock opened at $5.92 on Wednesday. The firm has a market capitalization of $1.24 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 2.82 and a beta of 1.20. The business’s fifty day simple moving average is $5.79 and its 200 day simple moving average is $6.28. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. Vivid Seats has a 12 month low of $5.11 and a 12 month high of $9.89.

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.