Vivid Seats price target lowered to $6 from $6.50 at DA Davidson

DA Davidson lowered the firm’s price target on Vivid Seats to $6 from $6.50 and keeps a Buy rating on the shares. The firm trimmed estimates to reflect a live events supply backdrop that it believes continued to weaken over the course of Q3-to-date. A number of third-party data sources appear to confirm that August was a particularly soft month for the industry, the analyst tells investors in a research note. Davidson believes the relative lack of A-list events in stadium venues during the quarter will make it difficult for Vivid to meaningfully exceed and potentially even meet consensus expectations for the balance of this year. However, its view on the 2025 supply backdrop “remains cautiously optimistic.”