started · updated
StubHub shares fall following record second-quarter results
StubHub Holdings shares experienced a significant decline this week, falling as much as 17% following its recent financial results and a cautious market outlook. Although the company reported record second-quarter results, including a 33% year-over-year revenue increase to $573 million and gross merchandise sales of $3.1 billion, investors reacted negatively to the company's continued lack of profitability and a conservative full-year guidance.
BofA Securities analyst Justin Post downgraded the stock from neutral to underperform and lowered the price target from $11 to $7.50. The downgrade reflects concerns that the growth seen during the World Cup may not be sustainable and that future growth could slow.
In a separate development, insider Scott Michael Fitzgerald sold 84,970 shares of the company at an average price of $7.08, a transaction valued at approximately $601,587.
Entities
BofA Securities · Justin Post · Live Nation Entertainment · Scott Michael Fitzgerald · StubHub Holdings
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] downgraded StubHub stock to underperform from neutral www.fool.com · www.brasilemfolhas.com.br
- [● 2 SOURCES] reduced the StubHub price target from $11 to $7.50 www.fool.com · www.brasilemfolhas.com.br
- [● 2 SOURCES] reported gross merchandise sales of $3.1 billion for the second quarter www.fool.com · www.brasilemfolhas.com.br
- [○ 1 SOURCE] sold 84,970 shares of StubHub stock at an average price of $7.08
- [● 2 SOURCES] reported second-quarter revenue of $573 million www.fool.com · www.brasilemfolhas.com.br
- [○ 1 SOURCE] remained unprofitable in the second quarter www.fool.com
- [● 2 SOURCES] increased full-year gross merchandise sales guidance to a midpoint of $10.2 billion www.fool.com · www.brasilemfolhas.com.br