Interest in StubHub stock hasn’t been as electric as the demand for its sports and concert tickets, but Wall Street remains upbeat. Twenty-five days after the ticket reseller’s initial public offering (IPO), analysts from the company’s underwriters are now free to cover the stock — and the near-unanimous verdict is to buy the first-month dip.
StubHub sold 34 million shares at $23.50 each in its IPO, but the stock stumbled more than 6% on its first day of trading. By Friday’s close, shares were down 14% from the IPO price at $18.89. “At that level, shares look inexpensive,” wrote Lloyd Walmsley of Mizuho Securities, which issued an Outperform rating with a $24 price target. Mizuho highlighted StubHub’s strong ticket-resale business and its emerging marketplace for newly issued tickets as key positives.
The company faced challenges last year when the Federal Trade Commission cracked down on hidden fees, requiring all-in pricing. However, Mizuho notes that this also sets up easier numbers to beat in upcoming quarters, projecting StubHub’s global resale revenue to grow 26% in 2026. StubHub is also in the early stages of its primary ticket sales, or “direct issuance,” business, which Mizuho expects to hit $1.9 billion in 2026, up nearly eightfold from $250 million in 2025.
“We like the company’s category-leading position in resale ticketing space and expect the direct issuance development to help accelerate top-line growth with steady margin improvement down the road,” Walmsley wrote.
J.P. Morgan, another lead underwriter for the IPO, shares the optimism. The bank forecasts StubHub’s share of the ticket resale market will surpass 50% in fiscal 2026, with direct-issuance deals with partners such as Major League Baseball boosting growth. While regulatory risks such as resale caps or anti-bot measures remain, J.P. Morgan analyst Doug Anmuth believes StubHub’s scale, brand, and technology platform will help the company navigate challenges. J.P. Morgan rated the stock Overweight with a $24 target.
Evercore ISI took a bullish stance over the weekend, initiating coverage with an Outperform rating and a $29 price target. While the firm noted skepticism among industry contacts about StubHub’s aggressive one-to-two-year timeline for its direct-issuance business, analysts agreed the company has the potential to expand successfully into the $150 billion market dominated by Ticketmaster.
Following the flurry of analyst notes, StubHub shares rose 4% to $19.65 on Monday. However, the optimism comes with caveats: firms tied to IPO underwriters rarely issue outright bearish opinions shortly after a deal, and Wall Street’s recommendations may reflect valuation opportunities as much as confidence in long-term potential.
StubHub currently trades at nine times its projected 2026 EBITDA, a 35% discount to peers despite expected double-digit earnings growth. Oppenheimer issued an Outperform rating with a $23 target — below the IPO price but still signaling gains for investors buying now.