Vivid Seats Price Target Cut to $32 by Citi Amidst Competitive Pressure

Citi analyst Jason Bazinet lowered Vivid Seats' (SEAT) price target to $32 from $70 and maintains a Buy rating. Bazinet notes the company's disappointing Q2 results due to competitive pressure and a challenging industry backdrop, which he expects to continue into the medium term.

Citi analyst Jason Bazinet has lowered Vivid Seats' (SEAT) price target to $32 from $70 while maintaining a Buy rating. The decision reflects the company's disappointing Q2 2025 results, which were negatively impacted by competitive pressure and a challenging industry backdrop [2].

Vivid Seats reported a significant decline in its key metrics, including a 31.3% drop in Marketplace Gross Order Value (GOV) to $685 million, and a 27.6% year-over-year decrease in revenue to $144 million. The company's net loss widened to $263.3 million, a stark contrast to the $1.2 million loss reported in the same period last year [1].

The analyst noted that the company's struggles are likely to persist in the medium term due to ongoing competitive pressures and industry challenges. Vivid Seats has initiated a cost reduction program aimed at saving $25 million annually by the end of 2025, which is expected to include workforce reductions [2].

Despite the challenging environment, Vivid Seats remains optimistic about long-term secular growth trends in the live events sector. The company plans to focus on platform differentiation to create "long-term stickiness" across both buyers and sellers [1].

The overall sentiment among analysts is mixed, with some maintaining a Hold rating due to competitive pressures and revenue decline, while others continue to recommend a Buy rating based on long-term recovery potential [3].

References:
[1] https://www.investing.com/news/company-news/vivid-seats-q2-2025-slides-revenue-plunges-28-as-net-loss-widens-to-263m-93CH-4169729
[2] https://seekingalpha.com/news/4478497-vivid-seats-stock-plunges-on-q2-results-miss-growth-concerns
[3] https://www.tipranks.com/stocks/seat/forecast