STUB (NYSE:STUB) Price Target Cut to $9.00 by Analysts at Guggenheim

Key Points

• Guggenheim cut STUB’s price target from $11.00 to $9.00 while maintaining a “buy” rating, implying approximately 45% upside from the stock’s $6.21 price.
• Analyst sentiment is mixed: STUB has an average rating of “Hold” and an average price target of $10.17, with six Buy, six Hold, and two Sell ratings.
• The company recently missed quarterly earnings expectations, reporting $0.02 EPS versus the $0.07 consensus estimate, while insiders sold nearly 1 million shares worth about $6.7 million over the past three months.

STUB (NYSE:STUB - Get Free Report) had its price target reduced by equities research analysts at Guggenheim from $11.00 to $9.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's price objective indicates a potential upside of 45.04% from the company's current price.

A number of other research analysts have also weighed in on the company. Bank of America reaffirmed an "underperform" rating and set a $7.50 target price (down from $11.00) on shares of STUB in a report on Thursday, August 13th. Wall Street Zen cut shares of STUB from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Mizuho set a $11.00 price target on shares of STUB in a report on Friday, August 14th. Oppenheimer decreased their price target on shares of STUB from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Thursday, August 13th. Finally, TD Cowen dropped their price objective on STUB from $16.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, August 21st. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, STUB has an average rating of "Hold" and an average price target of $10.17.

STUB Price Performance

STUB opened at $6.21 on Friday. The company has a market capitalization of $2.37 billion and a price-to-earnings ratio of -1.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $6.67 and a 200-day moving average price of $8.22. STUB has a twelve month low of $5.22 and a twelve month high of $21.49.

STUB (NYSE:STUB - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $573.07 million for the quarter. STUB had a negative net margin of 93.54% and a negative return on equity of 9.50%. Equities analysts expect that STUB will post 0.38 EPS for the current year.

Insider Transactions at STUB

In related news, insider Nayaab Islam sold 14,306 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $6.20, for a total transaction of $88,697.20. Following the completion of the sale, the insider directly owned 7,996,986 shares in the company, valued at $49,581,313.20. This represents a 0.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Streams sold 135,589 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $6.39, for a total value of $866,413.71. Following the transaction, the insider owned 1,225,976 shares in the company, valued at approximately $7,833,986.64. The trade was a 9.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 991,338 shares of company stock valued at $6,692,030. 30.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in shares of STUB during the second quarter valued at about $7,953,000. WINTON GROUP Ltd lifted its holdings in STUB by 194.6% in the 2nd quarter. WINTON GROUP Ltd now owns 43,600 shares of the company's stock worth $561,000 after buying an additional 28,800 shares during the period. Rose Capital Advisors LLC purchased a new stake in STUB in the 2nd quarter worth approximately $183,000. Comprehensive Financial Management LLC grew its position in shares of STUB by 13.6% in the 2nd quarter. Comprehensive Financial Management LLC now owns 390,543 shares of the company's stock worth $5,026,000 after buying an additional 46,808 shares during the last quarter. Finally, Stephens Group LLC grew its position in shares of STUB by 193.2% in the 2nd quarter. Stephens Group LLC now owns 1,022,413 shares of the company's stock worth $13,158,000 after buying an additional 673,715 shares during the last quarter.

STUB Company Profile

StubHub Holdings, Inc operates online ticket marketplaces that connect buyers and sellers of tickets for live events. Through the StubHub and viagogo platforms, the company offers tickets to sporting events, concerts, theater productions, festivals and other entertainment experiences. Its services generally include ticket discovery, digital transactions, delivery and customer support.

StubHub was founded in 2000 by Eric Baker and Jeff Fluhr. eBay acquired the company in 2007, and StubHub was later sold to viagogo in 2020.

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