Tom Forte, an analyst from Maxim Group, reiterated the Buy rating on Vivid Seats (SEAT – Research Report). The associated price target remains the same with $3.00.
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Tom Forte has given his Buy rating due to a combination of factors that highlight the potential for Vivid Seats’ growth and market position. The secondary ticket market is expected to grow at a mid-to-high single-digit rate on a normalized basis, which presents a favorable environment for the company. Despite facing tough comparisons in the sports sector and competitive pressures in performance marketing, these challenges are believed to be already reflected in the current share price, making it an attractive investment opportunity.
Additionally, Vivid Seats benefits from key differentiators such as its loyalty program, SkyBox for professional sellers, and Game Center, which enhance consumer engagement and market share. The company’s international expansion efforts, beginning with its acquisition in Japan and recent entry into Europe, are anticipated to contribute positively to future revenue growth. Moreover, the company’s financial position, with sufficient cash to support operations and growth initiatives, and its shares trading at a discount compared to peers, further support the Buy rating.
Forte covers the Consumer Cyclical sector, focusing on stocks such as Jakks Pacific, Beyond Inc, and Allbirds. According to TipRanks, Forte has an average return of 8.3% and a 45.77% success rate on recommended stocks.
In another report released on May 29, Citi also maintained a Buy rating on the stock with a $3.50 price target.