Canaccord Genuity Group Has Lowered Expectations for Vivid Seats (NASDAQ:SEAT) Stock Price

Vivid Seats (NASDAQ:SEAT) had its target price reduced by Canaccord Genuity Group from $23.00 to $12.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 13.74% from the stock’s current price.

A number of other analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vivid Seats in a research note on Wednesday, October 8th. Craig Hallum set a $2.00 price target on Vivid Seats in a research report on Tuesday, August 5th. Citigroup downgraded Vivid Seats from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $13.00 in a report on Thursday, October 23rd. Royal Bank Of Canada set a $12.00 target price on shares of Vivid Seats and gave the company a “sector perform” rating in a research note on Friday. Finally, Benchmark reissued a “buy” rating and set a $18.00 price objective (down from $26.00) on shares of Vivid Seats in a report on Friday. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.50.

Vivid Seats Stock Down 0.1%

SEAT stock opened at $10.55 on Friday. Vivid Seats has a twelve month low of $9.00 and a twelve month high of $100.00. 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 market cap of $108.71 million, a P/E ratio of 1.95, a PEG ratio of 2.16 and a beta of 0.87. The company’s 50 day moving average is $14.32 and its two-hundred day moving average is $26.94.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SEAT. Capstone Financial Advisors Inc. acquired a new position in Vivid Seats during the 2nd quarter valued at $25,000. Jump Financial LLC acquired a new stake in Vivid Seats in the 2nd quarter valued at $32,000. Raymond James Financial Inc. bought a new stake in Vivid Seats in the second quarter valued at $35,000. Rangeley Capital LLC acquired a new position in Vivid Seats in the second quarter valued at about $42,000. Finally, Quantbot Technologies LP bought a new position in shares of Vivid Seats in the second quarter valued at approximately $43,000. Institutional investors own 39.92% of the company’s stock.

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.