fuboTV (NYSE:FUBO) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of fuboTV (NYSE:FUBO) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

FUBO has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of fuboTV in a report on Wednesday, May 20th. Citizens Jmp began coverage on shares of fuboTV in a report on Monday, March 30th. They set a “market outperform” rating and a $13.00 price objective for the company. Barrington Research restated an “outperform” rating and set a $16.00 price objective on shares of fuboTV in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of fuboTV from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial began coverage on shares of fuboTV in a report on Friday, March 27th. They set a “buy” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued 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 currently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

fuboTV Stock Performance

Shares of FUBO stock opened at $9.77 on Monday. The firm has a 50-day moving average of $10.83 and a 200-day moving average of $20.35. The company has a market cap of $287.48 million, a P/E ratio of -7.69 and a beta of 2.41. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.99. fuboTV has a one year low of $8.31 and a one year high of $56.64.

fuboTV (NYSE:FUBO) last announced its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.28. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. fuboTV had a negative net margin of 0.90% and a negative return on equity of 5.52%. The firm’s revenue for the quarter was up 278.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. Equities research analysts forecast that fuboTV will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On fuboTV

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in fuboTV by 2,342.4% during the third quarter. Principal Financial Group Inc. now owns 579,749 shares of the company’s stock worth $2,406,000 after purchasing an additional 556,012 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in fuboTV by 32.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 73,049 shares of the company’s stock worth $184,000 after purchasing an additional 17,880 shares during the period. Swiss Life Asset Management Ltd bought a new position in fuboTV during the third quarter worth about $61,000. Byrne Asset Management LLC boosted its position in fuboTV by 398.8% during the fourth quarter. Byrne Asset Management LLC now owns 42,600 shares of the company’s stock worth $107,000 after purchasing an additional 34,060 shares during the period. Finally, Second Line Capital LLC boosted its position in shares of fuboTV by 1.8% in the third quarter. Second Line Capital LLC now owns 397,612 shares of the company’s stock valued at $1,650,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 39.31% of the company’s stock.

About fuboTV

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.