B. Riley Financial Issues Pessimistic Forecast for fuboTV (NYSE:FUBO) Stock Price

fuboTV (NYSE:FUBO) had its target price decreased by stock analysts at B. Riley Financial from $18.00 to $16.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s target price suggests a potential upside of 110.91% from the company’s current price.

A number of other equities research analysts have also issued reports on FUBO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of fuboTV in a report on Wednesday, August 5th. Wedbush reiterated an “outperform” rating and issued a $19.00 target price on shares of fuboTV in a research report on Friday, September 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

fuboTV Price Performance

Shares of FUBO traded down $0.08 during trading hours on Friday, hitting $7.59. 958,884 shares of the stock were exchanged, compared to its average volume of 1,068,157. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00. fuboTV has a 12-month low of $7.44 and a 12-month high of $44.76. The company has a market cap of $229.10 million, a price-to-earnings ratio of -5.92 and a beta of 2.37. The stock’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $11.20.

fuboTV (NYSE:FUBO) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.04. fuboTV had a negative return on equity of 7.67% and a negative net margin of 0.71%. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. Research analysts expect that fuboTV will post -0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP grew its position in shares of fuboTV by 500.3% in the third quarter. Marshall Wace LLP now owns 1,463,925 shares of the company’s stock valued at $13,117,000 after purchasing an additional 1,220,042 shares in the last quarter. State Street Corp increased its holdings in shares of fuboTV by 1.5% in the third quarter. State Street Corp now owns 635,087 shares of the company’s stock valued at $5,690,000 after purchasing an additional 9,444 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of fuboTV by 87,625.0% in the third quarter. Global Retirement Partners LLC now owns 3,509 shares of the company’s stock valued at $31,000 after purchasing an additional 3,505 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in fuboTV by 384.9% during the third quarter. Nisa Investment Advisors LLC now owns 9,199 shares of the company’s stock worth $82,000 after buying an additional 7,302 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in fuboTV by 126.0% during the third quarter. GAMMA Investing LLC now owns 7,029 shares of the company’s stock worth $63,000 after buying an additional 3,919 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors and hedge funds.

About fuboTV

FuboTV Inc., which operates under the Fubo name, is a live-TV streaming company with a focus on sports. Its subscription service offers live sports programming alongside news and entertainment channels, providing an internet-based alternative to traditional pay television. The service includes packages with different channel selections and may offer add-ons and features such as cloud DVR, depending on the market and plan. Fubo began in 2015 as a streaming service focused on soccer and later expanded into a broader live-TV offering.