StubHub: Mizuho initiates coverage with Outperform rating, sets PT at $24.

StubHub: Mizuho initiates coverage with Outperform rating, sets PT at $24.

Mizuho Financial Group has initiated coverage on StubHub Holdings (NYSE: STUB) with an Outperform rating and a price target of $24.00, according to a recent report. The stock, currently trading at $18.89, has shown strong momentum with an 11.6% gain over the past week Mizuho initiates StubHub stock with Outperform rating, $24 price target^[1].

The research firm believes StubHub shares appear inexpensive, trading at approximately 9x its $980 million adjusted EBITDA estimate for 2026. When excluding the estimated $142 million direct issuance contribution to EBITDA, the multiple rises to about 11x. Despite these favorable valuations, the stock is currently trading at a relatively high EV/EBITDA multiple of 56.3x based on current figures Mizuho initiates StubHub stock with Outperform rating, $24 price target^[1].

Mizuho notes that StubHub's current share price implies expectations of only $500-600 million in 2026 adjusted EBITDA, significantly below the firm’s $980 million base case estimate. The firm’s base case anticipates StubHub’s EBITDA multiple expanding from 9x to 11x on 2026 estimates, supporting the $24 price target, while its bull case sees potential for shares to reach $45 if the multiple expands to 16x Mizuho initiates StubHub stock with Outperform rating, $24 price target^[1].

In a recent analyst report, Citizens initiated coverage with a Market Outperform rating, setting a price target of $24.00, noting StubHub’s leadership in North America and potential growth from new business lines. JPMorgan also began coverage with an Overweight rating and the same $24.00 price target, emphasizing StubHub’s accelerating market share gains and strong network effects. BMO Capital joined the list with an Outperform rating and a higher price target of $30.00, citing the company’s scale and differentiated offerings as key competitive advantages. Evercore ISI initiated coverage with an Outperform rating and a $29.00 price target, highlighting StubHub’s dominant market position and significant gross merchandise sales. Meanwhile, Goldman Sachs provided a Buy rating and the highest price target of $46.00, pointing to a long-term trend favoring experiences over products as a positive factor for StubHub Mizuho initiates StubHub stock with Outperform rating, $24 price target^[1].

These recent developments underscore StubHub’s robust market presence and potential for future growth. Investors should closely monitor the company’s financial performance and the broader market trends affecting the secondary ticketing industry.