StubHub drops as profit forecast misses expectations, draws BofA downgrade
13/08/2026 15:35
BUZZ-StubHub drops as profit forecast misses expectations, draws BofA downgrade
** Shares of ticket-reselling platform StubHub Holdings STUB.N fall 12.7% to $7.5 in morning session
** On Wednesday, after markets closed, the co raised its adjusted EBITDA forecast for 2026 to $420 million, below analysts' expectation of $457.34 million - data compiled by LSEG
** Brokerage BofA Global Research downgrades STUB to "underperform" from "neutral" and cuts PT to $7.5 from $11
** Near-term, ticketing sales could rebound from August lows and drive upside, but we also see risk to 2027 estimates (which assume further marketing leverage), brokerage says
** Including session's move, stock down 44.4% YTD
(Reporting by Pragyan Kalita in Bengaluru)