Brokerages Set Vivid Seats Inc. (NASDAQ:SEAT) Price Target at $6.67

Shares of Vivid Seats Inc. (NASDAQ:SEAT) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.63.

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered their price objective on Vivid Seats from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, November 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $4.00 price target (down from $5.00) on shares of Vivid Seats in a research note on Friday, November 8th. DA Davidson reduced their price objective on Vivid Seats from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Craig Hallum lowered their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Benchmark reduced their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Institutional Trading of Vivid Seats

Several institutional investors have recently made changes to their positions in the company. Barclays PLC grew its position in Vivid Seats by 353.2% in the third quarter. Barclays PLC now owns 125,163 shares of the company’s stock worth $462,000 after acquiring an additional 97,546 shares during the period. Geode Capital Management LLC grew its holdings in shares of Vivid Seats by 18.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,975,047 shares of the company’s stock worth $7,309,000 after purchasing an additional 314,482 shares during the period. Covalent Partners LLC increased its position in shares of Vivid Seats by 66.7% during the 3rd quarter. Covalent Partners LLC now owns 375,000 shares of the company’s stock worth $1,388,000 after purchasing an additional 150,000 shares during the last quarter. State Street Corp raised its holdings in Vivid Seats by 3.5% in the 3rd quarter. State Street Corp now owns 1,486,894 shares of the company’s stock valued at $5,502,000 after buying an additional 49,870 shares during the period. Finally, Clearline Capital LP lifted its position in Vivid Seats by 6.1% in the third quarter. Clearline Capital LP now owns 817,996 shares of the company’s stock valued at $3,027,000 after buying an additional 47,198 shares during the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.

Vivid Seats Stock Performance

SEAT opened at $4.63 on Monday. The company has a market cap of $961.84 million, a price-to-earnings ratio of 6.35, a PEG ratio of 15.89 and a beta of 1.11. The firm’s fifty day simple moving average is $3.71 and its two-hundred day simple moving average is $4.24. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17. Vivid Seats has a 52-week low of $3.24 and a 52-week high of $6.51.

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.