Shares of StubHub rose 3.8% following an upgrade from Citi analyst Jason Bazinet, who changed his rating from neutral to buy. Although he lowered the price target from $9 to $7, this still indicates an 18% potential upside from the previous close.
Bazinet anticipates that StubHub's adjusted EBITDA will exceed analyst expectations, with full-year earnings expected to be at the upper end of the company's guidance. This optimistic outlook is supported by record app downloads during the World Cup, with projections of 1.4 million downloads in Q3 2026, up from 1.2 million in Q2 2026.
StubHub holds a dominant position in the market, commanding approximately 40% of the online ticket reselling sector, and has benefited from a strong summer sports season and high concert demand. Despite a challenging year, with shares down 51% year to date, the recent performance and forecasts suggest a potential turnaround for the company