Wedbush Reiterates “Outperform” Rating for fuboTV (NYSE:FUBO)

fuboTV (NYSE:FUBO)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued on Friday, Benzinga reports. They currently have a $19.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 95.76% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of fuboTV in a report on Friday, June 12th. Weiss Ratings restated a “sell (e+)” rating on shares of fuboTV in a report on Wednesday, August 5th. Citigroup restated a “market outperform” rating on shares of fuboTV in a report on Thursday, June 11th. Wall Street Zen lowered shares of fuboTV from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Citizens Jmp restated a “market outperform” rating and issued a $15.00 price objective on shares of fuboTV in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, fuboTV has an average rating of “Moderate Buy” and an average price target of $16.83.

fuboTV Trading Up 0.8%

Shares of FUBO traded up $0.08 during mid-day trading on Friday, reaching $9.71. The company’s stock had a trading volume of 1,088,930 shares, compared to its average volume of 1,557,151. The stock has a market cap of $293.16 million, a PE ratio of -7.58 and a beta of 2.41. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. fuboTV has a 52 week low of $7.95 and a 52 week high of $52.68. The company’s fifty day moving average price is $10.08 and its two-hundred day moving average price is $10.65.

fuboTV (NYSE:FUBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. The business’s quarterly revenue was up 38.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. On average, analysts predict that fuboTV will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On fuboTV

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUBO. Mudrick Capital Management L.P. bought a new stake in fuboTV during the 2nd quarter valued at $12,387,000. State Street Corp purchased a new position in fuboTV during the 2nd quarter valued at $5,756,000. Pacer Advisors Inc. increased its position in fuboTV by 33.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company’s stock valued at $4,666,000 after purchasing an additional 464,607 shares during the period. Virtu Financial LLC purchased a new position in fuboTV during the 4th quarter valued at $802,000. Finally, HighTower Advisors LLC purchased a new position in fuboTV during the 2nd quarter valued at $775,000. 39.31% of the stock is currently owned by institutional investors.

fuboTV Company Profile

fuboTV Inc is a sports-focused live television streaming company that provides subscribers with access to live sports, news and entertainment programming over the internet. Its service is designed as an alternative to traditional pay television, allowing customers to stream programming on connected televisions, mobile devices, computers and other supported platforms.

The company’s offerings generally include packages of live television channels, sports networks and regional programming, along with features such as cloud-based digital video recording and multiview capabilities.