Royal Bank of Canada Lowers Vivid Seats (NASDAQ:SEAT) Price Target to $4.00

Vivid Seats (NASDAQ:SEAT - Get Free Report) had its price objective cut by research analysts at Royal Bank of Canada from $6.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank of Canada's price objective points to a potential upside of 42.60% from the stock's current price.

SEAT has been the topic of a number of other research reports. Benchmark decreased their target price on shares of Vivid Seats from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America reiterated an "underperform" rating and set a $2.60 target price (down from $6.25) on shares of Vivid Seats in a research report on Thursday. Canaccord Genuity Group decreased their price target on shares of Vivid Seats from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Morgan Stanley decreased their target price on shares of Vivid Seats from $4.60 to $3.75 and set an "equal weight" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Vivid Seats currently has an average rating of "Hold" and a consensus target price of $5.49.

Vivid Seats Stock Performance

NASDAQ SEAT traded down $0.10 during trading on Thursday, hitting $2.81. 2,929,720 shares of the company's stock were exchanged, compared to its average volume of 1,308,987. The stock's 50 day moving average price is $4.36 and its two-hundred day moving average price is $4.04. Vivid Seats has a fifty-two week low of $2.52 and a fifty-two week high of $6.09. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 1.17.

Institutional Investors Weigh In On Vivid Seats

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new stake in Vivid Seats during the 3rd quarter worth approximately $37,000. Stratos Wealth Partners LTD. bought a new stake in Vivid Seats during the fourth quarter worth $46,000. Quinn Opportunity Partners LLC bought a new position in Vivid Seats during the 4th quarter valued at $46,000. Stoneridge Investment Partners LLC bought a new position in shares of Vivid Seats during the fourth quarter valued at about $53,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Vivid Seats in the 4th quarter worth approximately $53,000. 39.92% of the stock is owned by institutional investors.

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.

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