StubHub Holdings (STUB) Reiterated at Market Perform by Citizens: "Incrementally Positive'

Citizens analyst Andrew Boone reiterated a Market Perform rating on StubHub Holdings (NYSE: STUB).

The analyst commented, "StubHub is slowing its roll-out of Direct Issuance and advertising as it further optimizes both products while it continues to lap all-in pricing headwinds through May 2026. We believe the question following this call will be: is this the last cut? We think it is, as two-year stacked GMS growth goes from +32% Y/Y in 4Q25 to +23% Y/Y in 1Q26 (both comp quarters had little Taylor Swift impact) based on our updated estimates, while we now project sales and marketing intensity for 2026 to be ahead of 2024 levels. While we acknowledge the choppiness of the events market and that StubHub is lapping an intense marketing period, this is the clearing event for estimates that we looked for when we downgraded shares in December and with valuation reset, we are incrementally positive. We now look for confirmation that execution and communication with the Street is more stable before we move to a more positive rating as we maintain our Market Perform rating."

For an analyst ratings summary and ratings history on StubHub Holdings click here. For more ratings news on StubHub Holdings click here.

Shares of StubHub Holdings closed at $10.17 yesterday.

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