Wedbush Reaffirms Outperform Rating for fuboTV (NYSE:FUBO)

Wedbush reaffirmed their outperform rating on shares of fuboTV (NYSE:FUBO) in a research report released on Wednesday, Benzinga reports. Wedbush currently has a $5.00 price objective on the stock.

A number of other research firms also recently weighed in on FUBO. Needham & Company LLC decreased their price objective on fuboTV from $4.00 to $3.00 and set a buy rating for the company in a report on Friday, March 1st. Cantor Fitzgerald reissued an overweight rating and set a $2.90 target price on shares of fuboTV in a research report on Wednesday. Evercore ISI lowered their target price on shares of fuboTV from $3.00 to $2.50 and set an in-line rating for the company in a research note on Monday, March 4th. Finally, Roth Mkm decreased their price target on fuboTV from $3.25 to $2.00 and set a neutral rating for the company in a report on Wednesday, February 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, fuboTV has a consensus rating of Moderate Buy and a consensus target price of $3.07.

fuboTV Price Performance

Shares of NYSE FUBO opened at $1.37 on Wednesday. fuboTV has a fifty-two week low of $1.08 and a fifty-two week high of $3.87. The stock has a market capitalization of $410.84 million, a price-to-earnings ratio of -1.28 and a beta of 2.07. The business has a 50-day moving average of $1.57 and a 200-day moving average of $2.36. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.75 and a quick ratio of 0.75.

fuboTV (NYSE:FUBO) last released its quarterly earnings results on Friday, March 1st. The company reported ($0.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.08. fuboTV had a negative net margin of 21.01% and a negative return on equity of 72.09%. The company had revenue of $410.18 million during the quarter, compared to the consensus estimate of $397.37 million. As a group, sell-side analysts predict that fuboTV will post -0.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John Janedis sold 18,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $1.90, for a total transaction of $34,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in fuboTV by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,259,363 shares of the company’s stock valued at $7,185,000 after acquiring an additional 22,762 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of fuboTV by 15.8% in the third quarter. Bank of New York Mellon Corp now owns 1,049,598 shares of the company’s stock valued at $2,802,000 after purchasing an additional 143,410 shares during the last quarter. Swiss National Bank purchased a new stake in shares of fuboTV in the third quarter valued at about $1,713,000. Aptus Capital Advisors LLC bought a new position in shares of fuboTV during the third quarter valued at about $1,418,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in fuboTV during the fourth quarter worth about $833,000. Hedge funds and other institutional investors own 39.31% of the company’s stock.

fuboTV Company Profile

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company's platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.