Vivid Seats (NASDAQ:SEAT) Price Target Cut to $12.00 by Analysts at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective reduced by Canaccord Genuity Group from $23.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 13.74% from the company’s previous close.

A number of other brokerages also recently weighed in on SEAT. Craig Hallum set a $2.00 price objective on shares of Vivid Seats in a research report on Tuesday, August 5th. Royal Bank Of Canada set a $12.00 target price on Vivid Seats and gave the company a “sector perform” rating in a research note on Friday. Citigroup cut Vivid Seats from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $13.00 in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Vivid Seats in a report on Wednesday, October 8th. Finally, Benchmark restated a “buy” rating and set a $18.00 price objective (down from $26.00) on shares of Vivid Seats in a research note on Friday. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.00.

Vivid Seats Stock Down 0.1%

NASDAQ SEAT traded down $0.01 on Friday, hitting $10.55. 146,132 shares of the stock traded hands, compared to its average volume of 112,192. The company has a current ratio of 0.72, a quick ratio of 0.63 and a debt-to-equity ratio of 1.77. The stock has a 50-day moving average of $14.46 and a 200 day moving average of $27.36. Vivid Seats has a twelve month low of $9.00 and a twelve month high of $100.00. The company has a market capitalization of $108.71 million, a P/E ratio of 1.95, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.

Vivid Seats (NASDAQ:SEAT) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.23). Vivid Seats had a positive return on equity of 8.93% and a negative net margin of 20.35%.The firm had revenue of $136.37 million for the quarter, compared to the consensus estimate of $131.38 million. As a group, analysts expect that Vivid Seats will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of Vivid Seats

Several large investors have recently added to or reduced their stakes in SEAT. Capstone Financial Advisors Inc. bought a new stake in Vivid Seats during the 2nd quarter valued at $25,000. Jump Financial LLC acquired a new position in shares of Vivid Seats during the second quarter valued at $32,000. Raymond James Financial Inc. bought a new stake in shares of Vivid Seats during the second quarter valued at about $35,000. Rangeley Capital LLC acquired a new stake in Vivid Seats in the second quarter worth about $42,000. Finally, Quantbot Technologies LP acquired a new stake in Vivid Seats in the second quarter worth about $43,000. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.