In yesterday’s Wall Street session, Vivid Seats Inc (NASDAQ:SEAT) shares traded at $7.05, up 4.29% from the previous session.
As of this writing, 11 analysts cover Vivid Seats Inc (NASDAQ:SEAT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $8.00, we find $10.25. Given the previous closing price of $6.76, this indicates a potential upside of 51.63 percent. SEAT stock price is now 1.97% away from the 50-day moving average and -4.53% away from the 200-day moving average. The market capitalization of the company currently stands at $790.73M.
There are 4 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $10.90 as their price target over the next twelve months.
With the price target of $9.50, Morgan Stanley recently initiated with Equal-Weight rating for Vivid Seats Inc (NASDAQ: SEAT).
In other news, Wagner Jonathan Miles, Chief Technology Officer sold 1,792 shares of the company’s stock on Oct 20. The stock was sold for $10,627 at an average price of $5.93. Upon completion of the transaction, the Chief Technology Officer now directly owns 78,263 shares in the company, valued at $0.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 20, Chief Strategy Officer Bakal Riva sold 1,137 shares of the business’s stock. A total of $6,742 was realized by selling the stock at an average price of $5.93. This leaves the insider owning 50,359 shares of the company worth $0.36 million. Insiders disposed of 15,148,781 shares of company stock worth roughly $106.8 million over the past 1 year. A total of 62.73% of the company’s stock is owned by insiders.
Friday morning saw Vivid Seats Inc (NASDAQ: SEAT) opened at $6.60. During the past 12 months, Vivid Seats Inc has had a low of $5.59 and a high of $9.89. According to the stock market information, the enterprise value for the company is $807.18M, which is based on a 17.09 price-to-earnings ratio, a 1.57 price-to-earnings-growth ratio, and a beta of 1.39. The fifty day moving average price for SEAT is $6.93 and a two-hundred day moving average price translates $7.38 for the stock.
The latest earnings results from Vivid Seats Inc (NASDAQ: SEAT) was released for Sep, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.07, beating analysts’ expectations of $0.04 by 0.03. This compares to $0.23 EPS in the same period last year. The company reported revenue of $188.13 million for the quarter, compared to $156.82 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 19.97 percent. For the current quarter, analysts expect SEAT to generate $183.59M in revenue.
Vivid Seats Inc(SEAT) Company Profile
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 sports, concerts, and theater shows, and other live events. This segment offers Skybox, a proprietary enterprise resource planning tool that helps ticket sellers manage ticket inventories, adjust pricing, and fulfill orders across multiple ticket resale marketplaces. The Resale segment acquires tickets to resell on secondary ticket marketplaces; and provides internal research and development support for Skybox and to deliver seller software and tools. The company was founded in 2001 and is headquartered in Chicago, Illinois.
