Royal Bank of Canada Cuts Vivid Seats (NASDAQ:SEAT) Price Target to $6.00

Vivid Seats (NASDAQ:SEAT) had its price objective cut by Royal Bank of Canada from $7.00 to $6.00 in a report released on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Maxim Group reduced their target price on shares of Vivid Seats from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 4th. DA Davidson reduced their price objective on shares of Vivid Seats from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Citigroup lowered their target price on Vivid Seats from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Friday, September 20th. Benchmark reduced their price target on Vivid Seats from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Canaccord Genuity Group cut their price objective on Vivid Seats from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Vivid Seats Stock Performance

Shares of SEAT stock opened at $3.76 on Monday. The firm has a market capitalization of $782.38 million, a price-to-earnings ratio of 7.15, a PEG ratio of 17.94 and a beta of 1.18. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $3.92 and its 200-day moving average price is $4.64. Vivid Seats has a 12 month low of $3.36 and a 12 month high of $8.80.

Institutional Trading of Vivid Seats

Several hedge funds have recently modified their holdings of SEAT. Ameritas Investment Partners Inc. increased its stake in Vivid Seats by 301.6% in the first quarter. Ameritas Investment Partners Inc. now owns 7,449 shares of the company’s stock valued at $45,000 after purchasing an additional 5,594 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats in the 3rd quarter valued at about $37,000. Principal Financial Group Inc. bought a new stake in Vivid Seats in the 2nd quarter valued at about $61,000. Marshall Wace LLP acquired a new position in Vivid Seats during the 2nd quarter worth approximately $67,000. Finally, Entropy Technologies LP acquired a new stake in Vivid Seats in the first quarter valued at approximately $101,000. Institutional investors own 39.92% of the company’s stock.

Vivid Seats Company Profile

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.