Vivid Seats (NASDAQ:SEAT) Given New $10.00 Price Target at Canaccord Genuity Group

Vivid Seats (NASDAQ:SEAT) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $12.00 to $10.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 87.27% from the company’s previous close.

A number of other research firms also recently issued reports on SEAT. Maxim Group lifted their price objective on shares of Vivid Seats from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum began coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 price target on the stock. Benchmark restated a “buy” rating and set a $15.00 price objective on shares of Vivid Seats in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada decreased their price objective on Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.15.

Vivid Seats Stock Down 1.3 %

Shares of SEAT stock traded down $0.07 on Wednesday, hitting $5.34. 712,207 shares of the stock were exchanged, compared to its average volume of 1,531,620. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 2.63 and a beta of 1.23. Vivid Seats has a fifty-two week low of $5.11 and a fifty-two week high of $9.89. The business has a 50-day moving average of $5.70 and a 200 day moving average of $6.23.

Institutional Investors Weigh In On Vivid Seats

A number of hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its position in Vivid Seats by 4.3% in the third quarter. D.A. Davidson & CO. now owns 35,975 shares of the company’s stock valued at $231,000 after purchasing an additional 1,475 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in 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 buying an additional 2,090 shares during the last quarter. Swiss National Bank boosted its position in Vivid Seats by 5.1% during the 3rd quarter. Swiss National Bank now owns 84,500 shares of the company’s stock worth $542,000 after buying an additional 4,100 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Vivid Seats during the 3rd quarter worth approximately $37,000. Finally, Tower Research Capital LLC TRC increased its position in Vivid Seats by 417.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,308 shares of the company’s stock valued at $71,000 after acquiring an additional 9,121 shares during the period. 39.92% of the stock is currently owned by institutional investors and hedge funds.

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.