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StubHub Holdings Incorporation Class A
(NYSE:STUB)
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Rating:53Neutral
Price Target:
$8.00
▲(21.58% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by weak financial performance (large 2025 earnings deterioration despite strong gross margins) and bearish technicals (below major moving averages with negative MACD). These are partially offset by a strong, upbeat earnings-call backdrop emphasizing accelerating GMS/revenue, margin progress, strong free cash flow and deleveraging, while valuation is hindered by a negative P/E and no stated dividend yield.
Positive Factors
Marketplace Growth
Rapid GMS growth and raised full-year guidance indicate sustained demand for live-event resale. Global World Cup participation across more than 150 countries also supports StubHub’s marketplace scale and international reach.
Negative Factors
Earnings Volatility
The sharp 2025 earnings collapse shows that strong gross margins have not consistently translated into bottom-line profits. Persistent cost volatility or one-time charges could limit the durability of recent adjusted EBITDA and cash-flow improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Marketplace Growth
Rapid GMS growth and raised full-year guidance indicate sustained demand for live-event resale. Global World Cup participation across more than 150 countries also supports StubHub’s marketplace scale and international reach.
Read all positive factors
StubHub Holdings Incorporation Class A (STUB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.51B
Dividend YieldN/A
Average Volume (3M)7.91M
Price to Earnings (P/E)―
Beta (1Y)1.94
Revenue Growth7.87%
EPS Growth-2072.73%
CountryUS
Employees900
SectorGeneral
Sector StrengthN/A
IndustryInternet Content & Information
Share Statistics
EPS (TTM)-5.27
Shares Outstanding357,339,970
10 Day Avg. Volume6,433,076
30 Day Avg. Volume7,908,774
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.41
Price to Sales (P/S)2.68
P/FCF Ratio24.49
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$11.42Price Target Upside73.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)0.35
Revenue Forecast (FY)$2.02B
StubHub Holdings Incorporation Class A Business Overview & Revenue Model
Company Description
StubHub Holdings, Inc. operates ticketing marketplace for live event tickets worldwide. It buys and sells tickets to live events and experiences through websites and mobile applications under the StubHub and viagogo brand names. The company was fo...
StubHub Holdings Incorporation Class A Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The call presents a strongly positive operational and financial picture: robust GMS and revenue growth, meaningful margin expansion, strong free cash flow generation and significant deleveraging alongside execution wins from the World Cup and early product/monetization initiatives. The company also highlighted several short-term challenges — a small subset of World Cup fulfillment issues that drove incremental customer-service and fulfillment costs, higher ops and professional fees tied to regulatory work, elevated stock-based compensation impacting reported net income, and conservative near-term guidance due to demand uncertainty following the World Cup. Overall the positive drivers (large top-line acceleration, margin expansion, cash flow and balance-sheet improvement) substantially outweigh the transitory and manageable headwinds discussed on the call.Positive Updates
Strong GMS Growth
Gross merchandise sales (GMS) of $3.1 billion in Q2, up 34% year-over-year; company raised full-year GMS guidance to $10.1–$10.3 billion (10%–12% growth vs prior year) from a prior outlook of 8%–10%.
Negative Updates
World Cup Fulfillment Issues and Temporary Margin Pressure
A small subset of World Cup orders experienced fulfillment issues; company increased investments in customer support and fulfillment, which compressed gross margin to ~82% in Q2 (slightly below the typical mid-80% run rate) and impacted GMS-to-revenue dynamics for the quarter.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong GMS Growth
Gross merchandise sales (GMS) of $3.1 billion in Q2, up 34% year-over-year; company raised full-year GMS guidance to $10.1–$10.3 billion (10%–12% growth vs prior year) from a prior outlook of 8%–10%.
Read all positive updates
Company Guidance
StubHub raised full‑year GMS guidance to $10.1–$10.3 billion (up 10–12% YoY vs prior 8–10%) while maintaining adjusted EBITDA guidance of $400–$420 million; Q2 results that underpinned the update included $3.1B GMS (+34% YoY), ~ $106M adjusted EBITDA (18% margin, ~+600 bps), revenue of $573M, a GMS→revenue conversion of ~19% and gross margin of ~82%. Management said H2 margin expansion is expected as temporary World Cup investments normalize (guidance is inclusive of incremental World Cup customer‑support and regulatory advocacy costs), highlighted an ~800‑bp sales & marketing efficiency improvement (sales & marketing = 47% of revenue), ops & support ≈3% of revenue (up 32% YoY), trailing‑12‑month free cash flow of ~$598M (194% conversion of adjusted EBITDA; underlying FCF $288M = 93% conversion), cash of ~$1.7B (~$490M net of seller payables), net leverage improved to 3x from 4.5x, gross debt ≈$1.3B with $100M repaid post‑quarter and $1.1B repaid over the last 12 months, and advertising revenue expected to be in the “tens of millions” for the year.StubHub Holdings Incorporation Class A Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
52
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.94B | 1.75B | 1.77B | 1.37B | 1.04B | 672.79M |
| Gross Profit | 1.56B | 1.41B | 1.44B | 1.14B | 851.10M | 583.77M |
| EBITDA | -1.25B | -1.38B | 241.57M | 264.29M | -43.71M | -251.81M |
| Net Income | -1.77B | -1.91B | -2.80M | 405.20M | -260.99M | -629.95M |
Balance Sheet | ||||||
| Total Assets | 5.56B | 5.05B | 5.09B | 4.98B | 4.34B | 4.41B |
| Cash, Cash Equivalents and Short-Term Investments | 1.69B | 1.24B | 1.00B | 775.71M | 372.36M | 554.06M |
| Total Debt | 1.40B | 1.51B | 2.33B | 2.41B | 2.40B | 2.44B |
| Total Liabilities | 3.48B | 3.11B | 3.72B | 3.59B | 3.44B | 3.27B |
| Stockholders Equity | 2.08B | 1.94B | 1.38B | 1.39B | 907.43M | 1.14B |
Cash Flow | ||||||
| Free Cash Flow | 634.02M | 191.18M | 255.11M | 301.95M | -49.83M | -139.64M |
| Operating Cash Flow | 635.20M | 192.57M | 261.49M | 307.39M | -47.52M | -136.09M |
| Investing Cash Flow | -37.61M | -34.38M | -6.38M | -5.44M | -710.00K | -49.00M |
| Financing Cash Flow | -134.64M | 71.79M | -46.71M | 94.13M | -134.15M | 126.13M |
StubHub Holdings Incorporation Class A Risk Analysis
StubHub Holdings Incorporation Class A disclosed 64 risk factors in its most recent earnings report. StubHub Holdings Incorporation Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
StubHub Holdings Incorporation Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.74B | 29.52 | 357.13% | ― | 32.38% | ― | |
70 Outperform | $645.13M | -22.08 | -14.05% | ― | 11.85% | 47.54% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | $2.51B | -1.24 | -83.28% | ― | 7.87% | -2072.73% | |
51 Neutral | $258.68M | -13.55 | -8.50% | ― | -2.78% | 72.47% |
* General Sector Average
STUB
StubHub Holdings Incorporation Class A
6.55
-13.95
-68.05%
SPT
Sprout Social
11.04
-4.79
-30.26%
GRND
Grindr
15.35
-0.35
-2.23%
SMRT
SmartRent
1.36
-0.09
-6.21%
StubHub Holdings Incorporation Class A Corporate Events
Executive/Board ChangesShareholder Meetings
StubHub Shareholders Reaffirm Board, Auditor and Pay Policies
Positive
Jun 26, 2026
At its June 23, 2026 annual meeting, StubHub Holdings, Inc. stockholders elected seven director nominees to serve on the board until the 2027 annual meeting, confirming continuity in the company’s leadership and governance structure. The str...
Business Operations and StrategyExecutive/Board Changes
StubHub Grants $4 Million Retention Bonus to CTO
Positive
Jun 26, 2026
On June 22, 2026, StubHub Holdings, Inc. entered into a letter agreement with its Chief Technology Officer, Artem Yegorov, granting him a $4 million retention bonus subject to specific service conditions. The bonus is structured to be fully earned...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.