Vivid Seats Inc. (NASDAQ:SEAT) posted a loss for the fourth quarter on Thursday.
The company posted a quarterly net loss of $428.7 million, versus a year-ago net loss of $424.2 million. Its revenues fell 37% year-over-year to $126.8 million from $199.8 million.
“The trends we are seeing in the first quarter confirm that our strategy and execution are delivering measurable results,” said Lawrence Fey, Chief Executive Officer of Vivid Seats. “We are enhancing our foundational strengths that include our leading technology, unique data assets, relentless focus on efficiency, and differentiated customer value proposition. We are particularly encouraged by the positive impact and momentum we are seeing from the impact of our enhanced App value proposition coupled with our cost reduction program.”
Vivid Seats shares gained 4.4% to close at $5.90 on Friday.
These analysts made changes to their price targets on Vivid Seats following earnings announcement.
- Benchmark analyst Daniel L. Kurnos maintained Vivid Seats with a Buy and lowered the price target from $18 to $10.
- RBC Capital analyst Brad Erickson maintained the stock with a Sector Perform and cut the price target from $12 to $8.
- Morgan Stanley analyst Cameron Mansson-Perrone maintained Vivid Seats with an Equal-Weight rating and lowered the price target from $9 to $7.
- Canaccord Genuity analyst Maria Ripps maintained the stock with a Hold and lowered the price target from $12 to $10.
Considering buying CL stock? Here’s what analysts think:
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