StubHub: A Resilient Return to Public Markets
StubHub's shares rise nearly 5% as analysts express long-term growth potential despite shaky IPO debut. Analysts back StubHub's expansion into primary ticketing, though shares lag IPO price. Raised $800M in IPO for debt reduction, marking a return to public markets after multiple delays.
Shares of StubHub Holdings rose by almost 5% in premarket trading on Monday. Despite a rocky IPO debut last month, Wall Street analysts remain optimistic about the ticketing platform's long-term growth probability.
Evercore ISI analysts gave an 'outperform' rating, acknowledging StubHub's strong position in the secondary ticketing market. They predict it will successfully enter the larger primary ticketing sector. The recent trading value of $19.81, below its $23.50 IPO price, suggests lingering market skepticism.
StubHub managed to raise nearly $800 million with its IPO, funds that are intended to pay down its $2.4 billion debt. This marks an important return to public markets for StubHub, having been previously acquired by Viagogo in 2020 and originally founded under eBay's ownership in 2000.
(With inputs from agencies.)
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