StubHub shares tick higher for third day in a row after Citi upgrade
Analyst Jason Bazinet raised his rating to buy from neutral.
TL;DR
- Citi analyst Jason Bazinet upgraded StubHub's stock to 'buy' from 'neutral'.
- StubHub's adjusted EBITDA is expected to surpass analyst expectations, with full-year earnings near the top end of guidance.
- Record weekly app downloads were observed during the World Cup, with downloads increasing further in the subsequent quarter.
- StubHub is the leading online ticket reselling platform with approximately 40% market share.
- The company has benefited from a robust summer sports season and strong demand for concerts.
- StubHub is experiencing a "K-shaped economy" in live music, with surging demand for large-scale events.
- StubHub's stock has decreased by 51% year to date.