CHICAGO, Oct. 28, 2025 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ:SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, will report financial results for the third quarter 2025 on Thursday, November 6, 2025, before the U.S. stock market opens. Management will discuss the results on a webcast at 8:30 a.m. ET. The live webcast and replay can be accessed at https://inv ...

Strategic Actions Expected to Result in Meaningful Cash SavingsCHICAGO, Oct. 20, 2025 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced that it has entered into a Corporate Simplification Agreement to effect a series of transactions that will simplify its organizational structure, including by eliminati ...

Core Viewpoint - StubHub Holdings (NYSE: STUB) is recommended as a buy due to its underappreciated growth potential in the secondary ticket marketplace [1] Company Analysis - StubHub is identified as a leading player in the secondary ticket marketplace, indicating a strong market position [1] - The investment approach emphasizes understanding core business economics, including competitive moat, unit economics, reinvestment runway, and management quality [1] - The focus is on long-term free cash flow generation and shareholder value creation, highlighting the importance of fundamental research [1] Investment Strategy - The investment strategy is centered around identifying businesses with the potential to scale and unlock significant terminal value over time [1] - There is a preference for sectors with strong secular tailwinds, suggesting a focus on industries poised for growth [1] - The analysis aims to provide insights that help investors focus on factors driving long-term equity value [1]

Core Insights - StubHub Holdings, Inc. is positioned to accelerate revenue growth by leveraging its dominant market share, launching Direct Issuance initiatives, and expanding advertising opportunities, aiming to outperform broader online marketplace trends [1] - Bank of America analyst Justin Post initiated coverage with a Buy rating and a $25 price target, emphasizing StubHub's leadership as North America's largest secondary ticket marketplace with nearly 50% market share [1] Financial Performance - StubHub has invested over $900 million in sales and marketing, surpassing some competitors' total revenue, which presents an opportunity for improved operating leverage [2] - The analyst anticipates StubHub's EBITDA margins to more than double by 2026, approaching 40% in the long term, driven by enhanced marketing efficiency, profitability in Direct Issuance, and growth in the Advertising segment [3] Market Position and Consumer Sentiment - StubHub is identified as the most frequently used secondary ticketing platform, outperforming major competitors in buying experience and pricing perception [4][5] - A Bank of America survey indicates consumers plan to maintain ticket spending levels over the next year, with a shift towards increased spending on secondary marketplaces [5] Growth Catalysts - Three near-term catalysts are highlighted: the launch of advertising on the platform, new team partnership deals, and the upcoming U.S. World Cup, which could enhance investor confidence in StubHub's growth prospects [4] Risks and Challenges - Execution risk is a primary concern, focusing on management's ability to rationalize spending while gaining market share and achieving planned growth in Direct Issuance and Advertising [6] - Additional risks include pressure from All-In Pricing mandates, dynamic pricing impacts, potential regulatory initiatives, and the upcoming lock-up expiration in Q1 2026 [7] Valuation - The $25 price target is based on a sum-of-the-parts valuation, applying a 10x multiple to 2026E Resale EBITDA and a 2x multiple to 2027E Direct Issuance sales, resulting in an implied 11x multiple on 2026E EBITDA [8]

Core Viewpoint - StubHub's stock has seen a positive response from analysts following its IPO, with a majority recommending buy ratings despite initial trading struggles [1][2][3]. Analyst Coverage - At least 12 analysts have initiated coverage of StubHub, with 11 recommending buy-equivalent ratings and one maintaining a neutral stance [2]. - StubHub's stock rose nearly 5% to $19.82 after the initiation of coverage [2]. Stock Performance Post-IPO - StubHub's stock has faced challenges since its IPO on September 17, closing the first day 6% below the IPO price of $23.50 and down 20% from the IPO price by the end of the previous week [3]. - BofA analyst Justin Post set a buy rating with a price target of $25, indicating a more optimistic outlook compared to the stock's early performance [3]. Market Position and Growth Potential - StubHub is the largest secondary ticket marketplace in North America, holding close to 50% market share [4]. - Analysts expect strong revenue growth driven by the resale market, share gains, and new business initiatives, with BofA projecting a 29% revenue growth in 2024 [5]. - Evercore ISI analyst Mark Mahaney set a price target of $29, highlighting StubHub's robust financials and high gross margins of 81% in 2024 [5]. Direct Issuance Strategy - A key focus for StubHub is its ability to grow its direct ticket issuance business, which faces competition from major players like TicketMaster [7]. - The total addressable market for direct issuance and unsold tickets is estimated at $127 billion, compared to $30 billion for secondhand ticket sales [8]. - Analysts emphasize the importance of execution in expanding this segment over the next 12-24 months [8]. Company Background - StubHub was founded in 2000 and has undergone significant ownership changes, being acquired by eBay for $310 million in 2007 and later sold for approximately $4 billion to Viagogo in 2020 [9]. - The company reported a revenue increase of 29.5% in 2024, reaching $1.77 billion, with a net loss of $22.2 million in Q1 of this year [10].

Group 1 - StubHub Holdings, Inc. (NYSE:STUB) is an online marketplace for buying and reselling tickets to various live events, including sports, concerts, and theater [2] - The company's recent IPO saw its stock price fall below the offering price shortly after going public, closing at $22, down from the initial offering price of $23.50 [1] - The decline in stock price is viewed as a potential indicator of market froth, which may help temper investor enthusiasm [1] Group 2 - There is a belief that while StubHub has investment potential, certain AI stocks may offer greater upside potential and carry less downside risk [3]

Group 1 - StubHub Holdings, Inc. (NYSE: STUB) shares have experienced significant losses, dropping over 10% following its IPO due to investor concerns over a rapid slowdown in growth [1] - The company is part of a broader investment group that focuses on capitalizing on major corporate events such as IPOs, mergers & acquisitions, and earnings reports [1] - The investment group provides coverage of approximately 10 major events each month, aiming to identify the best investment opportunities [1]

Group 1 - The recent IPO market in the US has seen a resurgence, with several stocks experiencing significant gains on their debut, although some have since retreated [1] - StubHub's stock price fell to $22 on its first trading day, below the IPO price of $23.5, resulting in a 6.4% decline and a market capitalization of approximately $8.1 billion [1] - Despite the stock price drop, analysts consider the current valuation reasonable given StubHub's history of being acquired by eBay for $310 million in 2007 and later sold to Viagogo for over $4 billion in 2020 [1] Group 2 - StubHub's sales grew by only 3% in the first half of the year, reaching $827.9 million, while the company projects nearly $1.8 billion in revenue for the full year 2024, a year-on-year increase of nearly 30% [2] - The North American ticket resale market is valued at approximately $18 billion annually, with the international market at $23 billion [2] - StubHub claims to be the "largest secondary ticketing company for live events globally," holding nearly 50% market share in North America, with Viagogo contributing about 15% to its revenue [2] Group 3 - StubHub faces intense competition in the secondary ticket market, particularly from Ticketmaster, which dominates the primary ticketing market with an estimated share exceeding 50% [3] - StubHub has set a long-term financial goal of 20% annual growth in gross merchandise sales, although this target appears overly optimistic given current trends and Ticketmaster's market strength [3] - Some early investors remain optimistic about StubHub's potential, likening it to "asset-light" companies like Airbnb that can generate stable income in the future [3]

Company Overview - StubHub Holdings experienced a challenging stock-market debut, with shares dropping as much as 6% after an initial surge of 7% to over $25, ultimately closing at $22 after pricing at $23.50 [1][4] - The IPO raised approximately $800 million, indicating significant investor interest despite the initial volatility [1] Market Context - The debut coincided with the Federal Reserve's decision to cut interest rates by 25 basis points, but the market's reaction was muted, affecting overall trading momentum [2][3] - StubHub's performance on its first trading day did not match the enthusiasm seen in other recent IPOs like Figma and Klarna, suggesting a potential decline in investor enthusiasm for new offerings [2][4] Revenue Outlook - CEO Eric Baker indicated that federal regulations regarding ticket-pricing transparency could lead to a one-time revenue hit of approximately 10% for the company [3] - Despite the anticipated revenue dip, Baker expressed optimism about the company's long-term prospects, suggesting a reset in the market could lead to recovery [3]

Group 1: Company Overview - Stubhub Holdings raised $800 million in its IPO, but the stock price fell by 6.4% on the first day of trading, closing at $22 per share after an initial rise [1] - The company had initially planned a direct listing with a valuation exceeding $13 billion but faced delays due to market volatility and external factors [1][2] - Stubhub has focused on secondary ticket sales since its founding in 2000 and has recently expanded into primary ticket sales, although this segment remains small [2] Group 2: Financial Performance - For the six months ending June 30, the company reported revenues of $827.9 million and a net loss of $76 million, compared to revenues of $803.5 million and a net loss of $24 million in the same period last year [2] - Total merchandise sales (including fees and seller earnings) increased to $4.4 billion, up from $3.9 billion year-over-year [2] Group 3: Market Context and Regulatory Environment - The U.S. IPO market has been strong recently, raising approximately $5.3 billion since September 1, excluding special purpose acquisition companies [1] - The ticketing industry is under increased scrutiny from U.S. regulators, with investigations into practices by Live Nation's Ticketmaster and proposed legislation aimed at preventing resale of tickets not held by resellers [2] - Stubhub's CEO has advocated for the "Better Online Ticket Sales Act" to promote secure and democratic ticket distribution [2] Group 4: Ownership and Corporate Structure - Stubhub was acquired by eBay for $310 million in 2007 and later sold to Viagogo for $4.05 billion in 2019, with the two companies integrating after regulatory approval in 2022 [3] - The ownership structure shows CEO Eric Beck holding 4.2% of Class A shares, with significant voting power due to Class B shares, resulting in a total voting power of 88.3% [3] - The IPO was led by JPMorgan and Goldman Sachs, with participation from over ten other banks, and the stock is traded on the New York Stock Exchange [3]