Vivid Seats' Fair Value Estimate Downgraded Amid Lower Revenue and Gross Order Volume Projections

Vivid Seats' fair value estimate has been lowered to around $11.38 due to softer revenue and gross order volume assumptions, not a change in required return. Analysts have shifted to management's 2026 GOV framework and more cautious Q4 expectations to reduce the risk of future estimate cuts. This move has sparked concerns about competition and execution issues, with Deutsche Bank lowering its price target to $11.