Vivid Seats Inc. (NASDAQ:SEAT) Receives Consensus Recommendation of “Buy” from Brokerages

Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) has been assigned an average recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $14.25.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Vivid Seats from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Friday. Credit Suisse Group restated a “buy” rating and issued a $16.00 price target on shares of Vivid Seats in a research note on Friday, March 11th. Benchmark dropped their price target on shares of Vivid Seats from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Finally, Raymond James dropped their price target on shares of Vivid Seats from $17.00 to $11.00 in a research note on Tuesday, May 10th.

Shares of NASDAQ:SEAT opened at $8.91 on Monday. The firm’s 50 day moving average is $9.59 and its two-hundred day moving average is $10.31. Vivid Seats has a 52 week low of $7.02 and a 52 week high of $14.35.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Security Benefit Life Insurance Co. KS acquired a new position in shares of Vivid Seats during the fourth quarter valued at approximately $566,382,000. Vista Equity Partners Management LLC bought a new stake in Vivid Seats during the fourth quarter worth approximately $367,023,000. Massachusetts Financial Services Co. MA boosted its holdings in Vivid Seats by 15.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,771,804 shares of the company’s stock worth $41,716,000 after buying an additional 498,153 shares in the last quarter. Clearline Capital LP bought a new stake in Vivid Seats during the fourth quarter worth approximately $16,169,000. Finally, Emerald Advisers LLC bought a new stake in Vivid Seats during the first quarter worth approximately $11,871,000. Institutional investors and hedge funds own 56.43% of the company’s stock.

About Vivid Seats (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.

Further Reading

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