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

Vivid Seats (NASDAQ:SEAT) had its price target decreased by investment analysts at Canaccord Genuity Group from $23.00 to $12.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 13.74% from the stock’s previous close.

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

Vivid Seats Price Performance

SEAT stock traded down $0.01 during midday trading on Friday, hitting $10.55. 146,132 shares of the stock were exchanged, compared to its average volume of 112,192. The stock’s 50-day moving average price is $14.46 and its 200-day moving average price is $27.36. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.63 and a current ratio of 0.72. The stock has a market cap of $108.71 million, a price-to-earnings ratio of 1.95, a PEG ratio of 2.16 and a beta of 0.87. Vivid Seats has a fifty-two week low of $9.00 and a fifty-two week high of $100.00.

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 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 analyst estimates of $131.38 million. Research analysts predict that Vivid Seats will post 0.12 earnings per share for the current year.

Institutional Trading of Vivid Seats

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

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.