StubHub Holdings (STUB) PT Lowered to $16 at Guggenheim

Guggenheim analyst Curry Baker lowered the price target on StubHub Holdings (NYSE: STUB) to $16.00 (from $19.00) while maintaining a Neutral rating.

The analyst comments "Key Message: StubHub reported 3Q revenue and adj. EBITDA of $468mm (vs. our $457mm, consensus $452mm) and $68mm (vs. our $57mm, consensus $58mm) with the out-performance largely due to the timing of the on sale calendar with more events pulled into September. The September pull-forward is compounding an already tough 4Q y/y comp set-up (Taylor Swift Eras, last year's Yankees/Dodgers World Series), and management could not give a firm outlook for the on sale slate for the rest of this year. We have reduced our revenue, GMS, and adj. EBITDA outlook for 4Q. Management did not provide any 4Q outlook, and punted 2026 guidance to next year. We are reiterating our largely differentiated NEUTRAL rating and estimates outlook (compared to Street consensus) - see our recent STUB Initiation for details (link). PT down to $16 (from $19)."

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