Vivid Seats upgraded to Neutral at BofA after Q1 results

As previously reported, BofA upgraded Vivid Seats (SEAT) to Neutral from Underperform with a price target of $7.25, up from $5.65. While Vivid Seats continues to face competition from larger platforms and macro uncertainties, Q1 results suggest early signs of progress in the company’s app-based strategy, the analyst tells investors. Given the Q1 beat and the expectation for continued app traction, the firm raised its FY26 GOV estimate by 1%, its FY27 estimate by 5%, and its FY27 EBITDA estimate by 13% to $54M to better reflect cost reductions.