StubHub Holdings, Inc. operates a ticketing marketplace for live event tickets worldwide. It buys and sells tickets to live events and experiences through websites and mobile applications under the StubHub and viagogo brand names. The company was formerly known as Pugnacious Endeavors, Inc. and changed its name to StubHub Holdings, Inc. in September 2021. Founded in 2000, it is based in New York, New York.
Moody's Upgrades StubHub to B2 on $450 Million Debt Paydown
Moody's Ratings has upgraded StubHub Inc's Corporate Family Rating to B2 from B3, citing the live-event ticketing marketplace's debt-reduction efforts and a stable outlook. The agency also raised the company's Probability of Default Rating and senior secured bank credit facility ratings to B2. Moody's pointed to StubHub's voluntary repayment of $350 million in debt from excess cash flow since late 2025, plus an additional $100 million paydown after the second quarter of 2026, as key drivers of the upgrade. Although Moody's-adjusted leverage stood at 8.5x at the end of the second quarter, the agency expects it to fall to 5.7x by year-end 2026 on mid-to-high single-digit gross merchandise sales growth and margin expansion. Liquidity remains a strength, with a fully undrawn $565 million senior secured revolving credit facility maturing in 2030 and projected annual free cash flow of $280 million to $300 million net of seller payables. The stable outlook assumes leverage stays below 6x, though Moody's warned that regulatory headwinds or market share loss could pressure the rating, while further upgrades would require debt-to-EBITDA below 5x and a formal conservative financial policy.
Tapestry, Yeti, Cerebras among stocks moving premarket on earnings
Several companies saw significant premarket moves following their latest earnings reports. Tapestry dropped 7% after fiscal fourth-quarter revenue of $1.88 billion only slightly exceeded estimates, while Yeti slipped nearly 4% despite beating earnings expectations. Cerebras Systems tumbled nearly 18% after second-quarter revenue of $180 million missed the $194 million LSEG consensus, and StubHub lost almost 17% on weaker-than-expected adjusted gross margin. Birkenstock jumped 10% on better-than-expected quarterly results and raised full-year guidance, while EnerSys gained 13% after earnings and revenue topped Wall Street forecasts. Grocery Outlet rose 9% and Jack in the Box added more than 6% on earnings beats.
StubHub raises FY2026 GMS outlook to $10.1B-$10.3B
StubHub raised its full-year 2026 gross merchandise sales guidance to a range of $10.1 billion to $10.3 billion while maintaining adjusted EBITDA guidance of $400 million to $420 million. The company reported second-quarter GMS of $3.1 billion, up 34% year-over-year, and adjusted EBITDA of approximately $106 million, nearly double the prior year. Revenue increased 33% to $573 million, with gross margin of about 82%. Management cited World Cup-driven demand as a key factor, with fans from over 150 countries purchasing tickets, and noted that a small subset of orders experienced fulfillment issues, prompting increased investment in customer support. The company also highlighted early-stage sponsored listings and open distribution partnerships, including the American Athletic Conference, as growth initiatives.
Several companies saw notable after-hours stock moves following their latest earnings reports. Cerebras Systems tumbled 14% after second-quarter revenue of $180 million missed the $194 million LSEG consensus estimate. StubHub lost more than 15% as adjusted gross margin of 82.2% fell short of the 84.3% StreetAccount consensus, though it reaffirmed its full-year adjusted EBITDA outlook. Jack in the Box gained more than 1% after fiscal third-quarter earnings of 96 cents per share beat the 88-cent FactSet estimate, while Red Robin Gourmet Burgers rose nearly 2% on better-than-expected second-quarter results. Coherent slipped almost 3% despite first-quarter guidance above expectations, and Cisco Systems fell 3% after adjusted gross margin only narrowly beat estimates.
StubHub Stock Drops 13% After Washington D.C. Passes RESALE Act Capping Ticket Markups
StubHub Holdings stock fell 13% this week after the Washington, D.C. City Council passed the RESALE Act, which imposes a 10% cap on secondary-ticket sale markups effective January 1, 2027. Citigroup analyst Jason Bazinet estimated that if such caps average 15% for StubHub, its revenue could take a hit of around 30%, and if about 20% of its ticket sales are subject to legally mandated caps, its EBITDA could slide by roughly $95 million. D.C. joins Maine, Vermont, and Ontario in imposing legal caps on ticket resales, while similar measures are under consideration in New York, Massachusetts, California, and North Carolina. The law is part of a growing trend of jurisdictions targeting ticket resale markups, which are unpopular with consumers facing high live-event prices.
Johnson Fistel Investigates StubHub Holdings Over Potential Securities Claims
Johnson Fistel, PLLP is investigating StubHub Holdings, Inc. on behalf of investors who suffered losses, examining whether those losses may be recoverable under federal securities laws. The investigation follows a May 13, 2026 disclosure that Andro Capital was a seller on StubHub's platform and that CEO Eric Baker held an ownership interest in both StubHub and Andro, as well as a July 10, 2026 CBC report alleging Baker was a part owner and managing director of Andro, which sold millions of dollars' worth of tickets through StubHub and whose affiliate provided financing to other large-scale resellers. StubHub shares closed at $11.10 on July 10 and fell further to $10.30 on July 13, a decline of approximately 10.6% from the July 9 closing price of $11.52. Investors who purchased StubHub securities and suffered losses are encouraged to contact Johnson Fistel for more information.
STUB · Regulation · Negative Investigation into potential securities law violations and undisclosed conflicts of interest involving CEO and platform seller
Build-A-Bear Workshop beats StubHub as the better buy for 2026
Build-A-Bear Workshop is the preferred stock over StubHub for 2026, according to a comparative analysis. Build-A-Bear reported fiscal 2025 revenue of nearly $529.8 million, a 6.7% increase, with net income of approximately $52.2 million and a net margin of 9.9%, while StubHub posted revenue of nearly $1.7 billion, a 1.4% decline, and a net loss of close to $1.9 billion. Build-A-Bear trades at a forward price-to-earnings ratio of 7.6 times and a price-to-sales ratio of 0.7 times, compared to StubHub's 28.0 times and 2.6 times, respectively. The analysis notes that Build-A-Bear offers a proven profitable model and a dividend, whereas StubHub carries heavy debt and significant litigation and regulatory risks despite capturing 50% of the ticket resale market.
BBW · Capital · Positive Build-A-Bear is the subject of the analysis, which highlights its strong financials, low valuation, and profitable model as a better buy.
STUB · Capital · Negative StubHub is compared unfavorably, with declining revenue, net loss, high debt, and litigation/regulatory risks.
Texas AG investigates StubHub over ghost ticketing of World Cup tickets
Texas Attorney General Ken Paxton has launched an investigation into StubHub over allegations of ghost ticketing, where the company cancels or fails to deliver World Cup tickets after payment. Paxton said his office is looking into reports that StubHub is not delivering tickets that Texas fans rightfully purchased, with soccer fans across the U.S. complaining that their tickets were cancelled days or even hours before events. StubHub blamed transfer problems in FIFA's ticketing platform, but consumers attribute the practice to sellers collecting payments for tickets they do not possess and then cancelling after failing to deliver. Paxton warned that if StubHub is ghost ticketing Texans, his office will use every tool to hold them accountable and urged affected fans to file complaints. StubHub, which acts as an intermediary between buyers and sellers, was not immediately available for comment.
StubHub Stock Surged 30.5% in June on First Profitable Quarter Since 2024
StubHub shares jumped 30.5% in June 2026, driven by its first profitable quarter since the end of 2024 and a new product launch. The company reported $48 million in net income for the first quarter, reversing a year-ago loss, with revenue rising 12% to $446 million. Analyst firm Guggenheim initiated coverage on June 13 with a buy rating and a $12.50 price target, citing StubHub's leadership in ticket resales and the experience economy tailwind. StubHub also launched FestProtect, a protection platform for festival-goers, ahead of major events like Governors Ball and Lollapalooza. The 2026 FIFA World Cup, which began in mid-June across North America, provided an additional boost as StubHub flagged the tournament as a tier-one event for its platform. Despite the monthly gain, the stock remains more than 45% below its September 2025 IPO closing price.
World Cup knockout ticket prices fall sharply, cooling reseller revenue hopes
World Cup knockout-stage ticket prices have fallen well below expectations, according to resale tracking site TicketData. The average get-in price for round-of-32 matches dropped 39% from $2,040 to $1,245, while round-of-16 prices fell 28% to $2,080 from $2,895. Sharp declines were also seen for quarterfinal and semifinal games scheduled in July. The retreat from sky-high levels may temper the impact on second- and third-quarter earnings for resellers such as StubHub, Ticketmaster, and Vivid Seats, though analysts note that deep tournament runs by host nations the U.S., Canada, and Mexico would be a positive for those companies.
GameStop and StubHub face contrasting 2026 outlooks as retail pivot meets ticketing rebound
GameStop and StubHub present divergent investment cases for 2026, with GameStop leaning on cost cuts and collectibles while StubHub shows a sharp first-quarter earnings turnaround. GameStop's fiscal 2025 revenue fell 5.1% to $3.6 billion, yet net income rose to $418.4 million from $131.3 million a year earlier, yielding an 11.5% net margin and free cash flow of $597.3 million. StubHub posted a $1.9 billion net loss on $1.7 billion in revenue for the same period, but its first quarter of 2026 swung to a $48 million profit on revenue of $446 million, up 12% year over year. GameStop trades at a forward price-to-earnings ratio of 19.7 times versus StubHub's 25.7 times, while StubHub's price-to-sales ratio of 2.3 times is lower than GameStop's 2.7 times. The analysis favors StubHub for its growth potential, citing GameStop's uncertain long-term revenue path and its rejected bid to acquire eBay.
Lululemon Athletica and StubHub face contrasting 2026 outlooks as consumer spending shifts
Lululemon Athletica and StubHub present divergent investment cases in 2026 as consumer spending pivots between premium apparel and live experiences. Lululemon reported fiscal 2025 revenue of $11.1 billion, a 4.9% increase, with net income of $1.6 billion, though its net margin contracted to 14.2% from 17.1% a year earlier. The company cut its 2026 sales outlook to flat, and its stock hit a 52-week low of $109.36 amid a CEO transition, with Heidi O'Neill set to take over in September. StubHub posted fiscal 2025 revenue of $1.7 billion, down 1.4%, and a net loss of approximately $2.0 billion, but swung to a first-quarter 2026 net income of $48.0 million on revenue of $446.0 million, a 12% year-over-year increase. StubHub shares rebounded from a 52-week low of $5.74 in April, and the company trades at a forward price-to-earnings ratio of 23.2 times, compared with Lululemon's 10.5 times.
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