Vivid Seats: Buy Rating Amid Competitive Challenges and Long-term Recovery Potential

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on Vivid Seats (SEAT – Research Report) today and set a price target of $3.00.

Daniel Kurnos has given his Buy rating due to a combination of factors despite the challenges Vivid Seats is currently facing. The company has experienced a significant decline in gross order volume and revenue, primarily due to intensified competition from Stubhub. However, Kurnos believes that the competitive pressures are not sustainable for Stubhub in the long term, as there are limits to the traffic and conversion rates they can maintain.
Vivid Seats still retains a solid base of loyal customers and partnerships, which Kurnos sees as a foundation for recovery. The company’s current valuation, with an EV/EBITDA ratio under 7x for 2026, alongside a share buyback program and solid profitability, suggests potential for a rebound. Kurnos anticipates that the market conditions will normalize within the next 12-24 months, providing an opportunity for Vivid Seats to regain its footing and improve its financial performance.

In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $4.00 price target.

Based on the recent corporate insider activity of 56 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.