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

fuboTV (NYSE:FUBO)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $15.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 43.03% from the company’s previous close.

Several other research firms also recently weighed in on FUBO. Wedbush lowered their price objective on shares of fuboTV from $24.00 to $19.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Wall Street Zen downgraded shares of fuboTV from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Zacks Research downgraded shares of fuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday. B. Riley Financial initiated coverage on shares of fuboTV in a report on Friday, March 27th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $15.00 target price on shares of fuboTV in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.83.

fuboTV Stock Up 5.1%

Shares of NYSE FUBO opened at $10.49 on Friday. The firm has a market cap of $308.74 million, a PE ratio of -8.25 and a beta of 2.41. fuboTV has a 12-month low of $8.31 and a 12-month high of $56.64. The company’s fifty day simple moving average is $10.88 and its 200 day simple moving average is $19.91. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

fuboTV (NYSE:FUBO) last issued its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.28. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.58 billion. fuboTV had a negative net margin of 0.90% and a negative return on equity of 5.52%. fuboTV’s revenue was up 278.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. As a group, sell-side analysts forecast 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 added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its holdings in fuboTV by 47.7% during the fourth quarter. Farther Finance Advisors LLC now owns 15,045 shares of the company’s stock worth $38,000 after buying an additional 4,859 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in fuboTV by 13.2% during the third quarter. Kestra Private Wealth Services LLC now owns 42,757 shares of the company’s stock worth $177,000 after buying an additional 5,000 shares during the last quarter. USAdvisors Wealth Management LLC increased its holdings in fuboTV by 4.3% during the fourth quarter. USAdvisors Wealth Management LLC now owns 150,731 shares of the company’s stock worth $379,000 after buying an additional 6,200 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in fuboTV by 4.2% during the second quarter. The Manufacturers Life Insurance Company now owns 171,039 shares of the company’s stock worth $660,000 after buying an additional 6,857 shares during the last quarter. Finally, Second Line Capital LLC increased its holdings in fuboTV by 1.8% during the third quarter. Second Line Capital LLC now owns 397,612 shares of the company’s stock worth $1,650,000 after buying an additional 7,000 shares during the last quarter. Hedge funds and other institutional investors 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.