fuboTV (NYSE:FUBO) Stock Gets Price Target Trim from B. Riley Financial

Key Points

• B. Riley cut its fuboTV price target to $16 from $18 but maintained a Buy rating; the revised target implies 106.24% upside from the prior close.
• Analyst sentiment is Moderate Buy overall, with a consensus price target of $16.50; seven analysts rate the stock Buy, two Hold, and one Sell.
• fuboTV beat quarterly EPS expectations, reporting a loss of $0.25 per share versus the $0.29 loss forecast, while revenue rose 38% year over year.

fuboTV (NYSE:FUBO - Get Free Report) had its price target cut 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 indicates a potential upside of 106.24% from the company's previous close.

Other analysts also recently issued reports about the stock. Wedbush reiterated an "outperform" rating and issued a $19.00 price target on shares of fuboTV in a report on Friday, September 18th. Weiss Ratings reissued a "sell (e+)" rating on shares of fuboTV in a report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, fuboTV presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

fuboTV Trading Up 1.1%

Shares of FUBO opened at $7.76 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.00 and a quick ratio of 1.00. fuboTV has a 1 year low of $7.44 and a 1 year high of $44.76. The company has a 50 day simple moving average of $9.04 and a two-hundred day simple moving average of $11.30. The firm has a market cap of $234.29 million, a P/E ratio of -6.04 and a beta of 2.37.

fuboTV (NYSE:FUBO - Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.04. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. During the same quarter in the previous year, the company earned ($0.02) EPS. The business's revenue for the quarter was up 38.0% on a year-over-year basis. On average, equities analysts expect that fuboTV will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of fuboTV

Several hedge funds have recently modified their holdings of FUBO. Mudrick Capital Management L.P. purchased a new position in shares of fuboTV in the second quarter valued at $12,387,000. State Street Corp purchased a new stake in fuboTV during the second quarter valued at $5,756,000. Bank of New York Mellon Corp raised its stake in fuboTV by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 110,183 shares of the company's stock valued at $1,014,000 after purchasing an additional 11,189 shares in the last quarter. HighTower Advisors LLC purchased a new stake in fuboTV during the second quarter valued at $775,000. Finally, Corient Private Wealth LP purchased a new stake in fuboTV during the second quarter valued at $595,000. 39.31% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.