In a report released today, Tom Forte from D.A. Davidson reiterated a Buy rating on Vivid Seats (SEAT – Research Report), with a price target of $19.00. The company’s shares closed yesterday at $6.90.
According to TipRanks, Forte is a 5-star analyst with an average return of 14.8% and a 52.54% success rate. Forte covers the Technology sector, focusing on stocks such as Roku, Amazon, and Rumble.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vivid Seats with a $11.25 average price target, which is a 63.04% upside from current levels. In a report released on August 29, Citi also maintained a Buy rating on the stock with a $11.00 price target.
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Based on Vivid Seats’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $139.15 million and a net profit of $30.71 million. In comparison, last year the company earned a revenue of $129.91 million and had a net profit of $24.06 million
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SEAT in relation to earlier this year. Most recently, in July 2023, Hoya Topco, LLC, a Major Shareholder at SEAT sold 2,400,000.00 shares for a total of $18,432,000.00.
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