Canaccord analyst Maria Ripps lowered the firm’s price target on Vivid Seats (SEAT) to $4 from $5 and keeps a Buy rating on the shares. The firm said they reported soft Q1 results, with both total orders and Marketplace GOV declining ~20% and coming in below Canaccord estimates, with revenue and profitability also below consensus.
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Read More on SEAT:
- Vivid Seats Faces Financial Strain Amid Declining Order Value and Rising Costs, Analyst Recommends Sell
- Vivid Seats Faces Challenges Amidst Market Softening
- Vivid Seats Earnings Call: Strategic Moves Amid Challenges
- William Blair downgrades Vivid Seats on softer environment
- Vivid Seats downgraded to Market Perform from Outperform at William Blair
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