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StubHub Holdings Inc. (NYSE:STUB) is one of the 10 Stocks That Absolutely Exploded Higher.

StubHub rallied for a second day on Friday, jumping 7.91 percent to finish at $11.46 apiece, as investors took heart from Guggenheim Securities’ optimism for the company, thanks to the ongoing World Cup.

In a market note, Guggenheim reiterated its buy recommendation on shares of StubHub Holdings Inc. (NYSE:STUB), alongside a price target of $12.50 apiece. The figure marked a 9 percent upside potential from its latest closing price.

Photo by Mizuno K on Pexels

According to Guggenheim, the coverage reflected its optimism for growth prospects for the company, amid the ongoing World Cup—a prestigious sports event which began on Thursday, June 11, and will end on July 19.

With revenues from the event expected to be realized in the second and third quarters of the year, Guggenheim said that its price target still holds room for further upward revisions.

Guggenheim estimates StubHub Holdings Inc. (NYSE:STUB) to post an adjusted EBITDA of $427 million, slightly above the high end of management’s $400 million to $420 million guidance and Wall Street’s consensus of $411 million.

In other news, StubHub Holdings Inc. (NYSE:STUB) swung to a net income of $48 million from a $22.18 million net loss in the same period last year. Revenues grew by 12.17 percent to $446 million from $397.6 million year-on-year.

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