These Analysts Cut Their Forecasts On Stubhub After Weak Q3 Results
Avi Kapoor 4 hours ago
MarketsTrading IdeasNewsAnalyst RatingsPrice TargetEarnings
StubHub missed Q3 EPS and revenue estimates; shares fell 1.5%. Evercore and JPMorgan cut price targets to $13 and $8.
StubHub Holdings, Inc. (NYSE:STUB) on Tuesday posted downbeat results for the third quarter.
The company reported quarterly earnings of 5 cents per share which missed the analyst consensus estimate of 11 cents per share. The company reported quarterly sales of $501.953 million which missed the analyst consensus estimate of $513.878 million.
“Consumers continue to prioritize live events and value the trusted experience that StubHub provides as the global market leader,” said Eric Baker, Founder, Chairman and Chief Executive Officer of StubHub. “We are increasing our full-year GMS outlook to reflect our positive third quarter results and anticipated performance for the remainder of the year. Moving forward, we remain committed to advancing StubHub’s strategic priorities that expand access and choice for fans.”
Stubhub shares fell 1.5% to trade at $5.57 on Wednesday.
These analysts made changes to their price targets on Stubhub following earnings announcement.
- Evercore ISI Group analyst Mark Mahaney maintained the stock with an Outperform rating and lowered the price target from $14 to $13.
- JP Morgan analyst Doug Anmuth maintained the stock with a Neutral and lowered the price target from $11 to $8.
Considering buying STUB stock? Here’s what analysts think:
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