Vivid Seats (NASDAQ:SEAT) Issues Earnings Results, Misses Estimates By $0.46 EPS

Vivid Seats (NASDAQ:SEAT) released its quarterly earnings results on Monday. The company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($0.46), Zacks reports. Vivid Seats had a negative net margin of 60.26% and a negative return on equity of 211.26%.

Vivid Seats Stock Performance

NASDAQ SEAT opened at $2.09 on Monday. The company has a market capitalization of $23.49 million, a price-to-earnings ratio of -0.05 and a beta of 1.08. The company’s 50-day simple moving average is $3.68 and its two-hundred day simple moving average is $6.30. Vivid Seats has a one year low of $2.03 and a one year high of $11.03.

Analyst Upgrades and Downgrades

SEAT has been the subject of a number of analyst reports. Wall Street Zen raised shares of Vivid Seats from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $9.00 price target (up from $8.00) on shares of Vivid Seats in a research report on Wednesday, August 5th. Benchmark boosted their price objective on Vivid Seats from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.50 price objective (up from $7.00) on shares of Vivid Seats in a research report on Tuesday, August 25th. Finally, Morgan Stanley set a $5.00 price objective on Vivid Seats in a research report on Thursday, October 29th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.79.

Vivid Seats Company Profile

Vivid Seats Inc (NASDAQ: SEAT) operates an online marketplace that connects fans with ticket sellers for live entertainment and sporting events. Through its website and mobile applications, the company offers tickets to concerts, professional and college sports, theater productions, comedy shows and other events.

The platform is designed to support the full ticket-buying process, including event discovery, ticket selection and digital delivery. Vivid Seats also provides tools and services for ticket sellers and event organizers, while its Vivid Seats Rewards program is intended to encourage repeat purchases through customer benefits.

Founded in 2011, Vivid Seats is headquartered in Chicago and primarily serves customers in the United States and Canada.