Needham & Company LLC Reiterates Buy Rating for fuboTV (NYSE:FUBO)

fuboTV (NYSE:FUBO)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $15.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 63.33% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on FUBO. Wedbush cut their target price on fuboTV from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Wall Street Zen downgraded fuboTV from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded shares of fuboTV from a “sell (e-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. Zacks Research upgraded shares of fuboTV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of fuboTV in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

fuboTV Stock Down 2.1%

FUBO opened at $9.18 on Wednesday. fuboTV has a twelve month low of $8.31 and a twelve month high of $56.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $11.76 and a 200 day moving average price of $24.00. The company has a market cap of $270.38 million, a PE ratio of -7.23 and a beta of 2.50.

fuboTV (NYSE:FUBO) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.28. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.58 billion. fuboTV had a negative return on equity of 5.52% and a negative net margin of 0.90%.The business’s revenue was up 278.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. Sell-side analysts expect that fuboTV will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of fuboTV

A number of large investors have recently made changes to their positions in the stock. Federated Hermes Inc. raised its position in shares of fuboTV by 177.4% in the third quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock valued at $29,000 after buying an additional 4,413 shares during the last quarter. Titleist Asset Management LLC acquired a new stake in shares of fuboTV during the third quarter worth $42,000. Hurley Capital LLC acquired a new stake in shares of fuboTV during the fourth quarter worth $25,000. Concurrent Investment Advisors LLC acquired a new stake in shares of fuboTV during the fourth quarter worth $26,000. Finally, Focus Partners Wealth acquired a new stake in shares of fuboTV during the first quarter worth $30,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

fuboTV Company Profile

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.