Craig-Hallum starts Vivid Seats with a Buy amid live event industry tailwinds

As previously reported, Craig-Hallum analyst Ryan Sigdahl initiated coverage of Vivid Seats with a Buy rating and $10 price target, citing secular industry tailwinds in live events, its “leadership market share” of about 25%, and what the firm calls “attractive fundamentals.” Vivid has increased its market share of the secondary ticket market from about 20% in 2019 to about 25% today, notes the analyst, whose checks indicate Ticketmaster and StubHub have high brand awareness but “dated” tech and user interfaces, while Vivid and SeatGeek have a better user experience and broader focus on experiences instead of solely transactional.