Ticket marketplace StubHub has revived its plans to hold an initial public offering (IPO).
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The company, which was spun out of eBay (EBAY) in 2020, says it now plans to go public in September after delaying its planned IPO earlier this year over tariff and economic concerns. StubHub plans to list on the New York Stock Exchange under the ticker symbol “STUB.”
The ticketing marketplace had planned to hold its IPO in April of this year, but quickly aborted as the stock market crashed following U.S. President Donald Trump’s initial tariff announcement. StubHub now plans to hold its IPO roadshow after Labor Day on Sept. 1 and make its market debut later in the month.
Improving Metrics
StubHub has filed an updated IPO prospectus that shows improving financial metrics at the company. Revenue in this year’s first quarter grew 10% from a year earlier to $397.6 million. Operating income came in at $26.8 million for the period, up from a loss of $883,000 a year ago. However, the company’s net loss widened to $35.9 million from $29.7 million a year earlier. StubHub is not yet profitable.
StubHub is a popular player in the ticketing industry. Launched in 2000, it was purchased by eBay for $310 million in 2007 before being sold back to StubHub co-founder Eric Baker in 2020 for $4 billion. The company is seeking a $16.5 billion valuation ahead of its IPO.
StubHub is the latest high-profile company to test the U.S. IPO market. In recent months, companies such as design software firm Figma (FIG), crypto concern Circle (CRCL), and AI infrastructure provider CoreWeave (CRWV) have gone public.
Is the SPDR S&P 500 ETF Trust a Buy?
As StubHub is not yet publicly traded, we’ll look instead at the SPDR S&P 500 ETF (SPY). The ETF has a consensus Moderate Buy rating among 504 analysts. That rating is based on 428 Buy, 73 Hold, and three Sell recommendations issued in the last three months. The average SPY price target of $712.68 implies 11.52% upside from current levels.
