Vivid Seats price target lowered to $3 from $5 at Maxim

Maxim analyst Tom Forte lowered the firm’s price target on Vivid Seats (SEAT) to $3 from $5 and keeps a Buy rating on the shares. The company reported its first miss since it has de-SPACed in October 2021 while the management also suspended guidance due to macroeconomic and industry-specific challenges, and shares were down sharply on the results, the analyst tells investors in a research note. Maxim adds however that the “FOMO/YOLO thesis”, albeit not immune to current market conditions, is not going away, noting that Vivid Seats is well-positioned to be a beneficiary.