Vivid Seats (NASDAQ:SEAT) Upgraded by Zacks Investment Research to Buy

Vivid Seats (NASDAQ:SEAT – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $8.25 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 4.56% from the company’s previous close.

According to Zacks, “Vivid Seats Inc. provides marketplace which utilizes its technology platform to connect buyers with ticket sellers. Vivid Seats Inc., formerly known as Horizon Acquisition Corporation, is based in CHICAGO. “

A number of other research analysts have also commented on SEAT. Credit Suisse Group reiterated a “buy” rating and issued a $16.00 price objective on shares of Vivid Seats in a research report on Friday, March 11th. Raymond James reduced their price target on Vivid Seats from $17.00 to $11.00 in a research report on Tuesday, May 10th. Finally, Benchmark reduced their price target on Vivid Seats from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, March 11th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $14.03.

Shares of SEAT opened at $7.89 on Thursday. The business’s fifty day moving average price is $9.88 and its two-hundred day moving average price is $10.54. Vivid Seats has a 52 week low of $7.02 and a 52 week high of $14.35.

Several large investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in Vivid Seats during the fourth quarter worth about $52,000. State Street Corp bought a new position in Vivid Seats during the fourth quarter worth about $119,000. Victory Capital Management Inc. bought a new position in Vivid Seats during the fourth quarter worth about $120,000. Winthrop Advisory Group LLC bought a new position in Vivid Seats during the first quarter worth about $166,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Vivid Seats during the first quarter worth approximately $187,000. 56.43% of the stock is currently owned by institutional investors and hedge funds.

Vivid Seats Company Profile (Get Rating)

Vivid Seats Inc operates as an online secondary marketplace for tickets in the United States and Canada. 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 live sports, concerts, and theater shows, and other live events.

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