Overview

• Shares traded up nearly 5% Monday morning to about $19.8, giving the stock a short-term lift that still leaves it below the $23.50 IPO price.
• At least 12 firms launched coverage since late Sunday, with 11 buy or outperform ratings, including targets of $29 at Evercore ISI, $25 at Bank of America, and $25 at Wedbush.
• Analysts cite StubHub’s roughly 50% North American secondary-market share as a springboard for growth in direct issuance, highlighted by a recent Major League Baseball ticketing arrangement.
• Reports underscore execution risks in expanding against entrenched rivals such as Live Nation/Ticketmaster, though some note the shares trade at a discount versus peers.
• The company raised nearly $800 million in its September IPO to pay down about $2.4 billion of debt, after reporting 2024 revenue of $1.77 billion with recent net losses.