Vivid Seats (NASDAQ:SEAT) Price Target Increased to $9.00 by Analysts at Maxim Group

Vivid Seats (NASDAQ:SEAT) had its target price raised by stock analysts at Maxim Group from $7.00 to $9.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Maxim Group’s target price would suggest a potential upside of 66.36% from the company’s current price.

A number of other research firms have also issued reports on SEAT. Craig Hallum initiated coverage on shares of Vivid Seats in a research note on Friday, February 9th. They issued a “buy” rating and a $10.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $15.00 target price on shares of Vivid Seats in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada lowered their target price on shares of Vivid Seats from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.15.

Vivid Seats Stock Down 0.7 %

SEAT stock traded down $0.04 during midday trading on Wednesday, reaching $5.41. The company had a trading volume of 56,898 shares, compared to its average volume of 1,520,039. The company has a 50 day moving average of $5.68 and a two-hundred day moving average of $6.22. Vivid Seats has a 1 year low of $5.11 and a 1 year high of $9.89. The company has a market capitalization of $1.14 billion, a P/E ratio of 9.91, a PEG ratio of 2.63 and a beta of 1.23. The company has a current ratio of 0.50, a quick ratio of 0.46 and a debt-to-equity ratio of 2.52.

Institutional Investors Weigh In On Vivid Seats

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP acquired a new stake in shares of Vivid Seats during the 1st quarter worth approximately $101,000. Swiss National Bank grew its position in shares of Vivid Seats by 14.0% during the 1st quarter. Swiss National Bank now owns 132,100 shares of the company’s stock worth $791,000 after buying an additional 16,200 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Vivid Seats during the 1st quarter worth approximately $264,000. Capstone Investment Advisors LLC grew its position in shares of Vivid Seats by 192.4% during the 1st quarter. Capstone Investment Advisors LLC now owns 149,103 shares of the company’s stock worth $893,000 after buying an additional 98,103 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Vivid Seats during the 1st quarter worth approximately $230,000. Institutional investors and hedge funds own 39.92% of the company’s stock.

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.