Equities analysts expect Vivid Seats Inc. (NASDAQ:SEAT – Get Rating) to report $129.75 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Vivid Seats’ earnings. The lowest sales estimate is $127.00 million and the highest is $132.50 million. The company is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Vivid Seats will report full-year sales of $545.80 million for the current year, with estimates ranging from $537.00 million to $554.60 million. For the next fiscal year, analysts anticipate that the company will report sales of $620.10 million, with estimates ranging from $608.00 million to $632.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Vivid Seats.
SEAT has been the subject of a number of recent research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $16.00 price target on shares of Vivid Seats in a research note on Friday, March 11th. Benchmark cut their price objective on Vivid Seats from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, March 11th. Zacks Investment Research upgraded Vivid Seats from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Thursday. Finally, Raymond James dropped their target price on Vivid Seats from $17.00 to $11.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $14.03.
Institutional investors have recently made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new position in Vivid Seats in the fourth quarter valued at about $948,000. Security Benefit Life Insurance Co. KS acquired a new position in Vivid Seats in the fourth quarter valued at about $566,382,000. Victory Capital Management Inc. acquired a new position in Vivid Seats in the fourth quarter valued at about $120,000. Clearline Capital LP acquired a new position in Vivid Seats in the fourth quarter valued at about $16,169,000. Finally, Tiger Legatus Capital Management LLC acquired a new position in Vivid Seats in the fourth quarter valued at about $6,582,000. 56.43% of the stock is 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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