John Blackledge, an analyst from TD Cowen, has initiated a new Buy rating on StubHub Holdings Incorporation Class A (STUB).
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John Blackledge has given his Buy rating due to a combination of factors that highlight StubHub Holdings Incorporation Class A’s potential for growth in the global ticketing market. The company is expected to expand its share in the approximately $190 billion market, driven by significant growth in resale ticketing revenue and the development of a new Direct Issuance (DI) business. Blackledge’s analysis suggests that StubHub’s DI gross ticket sales will see substantial growth across major U.S. sports, supporting a projected revenue compound annual growth rate (CAGR) of over 40% from 2025 to 2030.
Furthermore, StubHub’s strong position in the secondary ticketing market is expected to bolster its growth. The company operates leading marketplaces for sports, concerts, and live events through its StubHub and viagogo brands. With a forecasted resale gross merchandise sales CAGR of 22% from 2025 to 2030, StubHub is poised to capture a larger share of the $36 billion secondary ticketing market. This growth is anticipated due to its superior user experience, advanced technology platform, and strong brand recognition, which are likely to attract more ticket supply and demand compared to smaller competitors.
In another report released today, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $46.00 price target.