Wedbush Reiterates Outperform Rating for fuboTV (NYSE:FUBO)

Key Points

• Wedbush reaffirmed an “Outperform” rating on fuboTV and set a $19 price target, implying approximately 92% upside from the prior close.
• Analyst sentiment is generally positive, with fuboTV holding a “Moderate Buy” consensus rating and an average price target of $16.83, despite one sell rating.
• fuboTV reported a quarterly loss of $0.25 per share, beating estimates, while revenue rose 38% year over year to $1.48 billion. Institutional investors own 39.31% of the company.

fuboTV (NYSE:FUBO - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $19.00 price target on the stock. Wedbush's price target points to a potential upside of 92.31% from the stock's previous close.

Several other equities analysts have also commented on FUBO. Citigroup reiterated a "market outperform" rating on shares of fuboTV in a research report on Thursday, June 11th. Barrington Research restated an "outperform" rating and issued a $16.00 target price on shares of fuboTV in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of fuboTV in a research note on Wednesday, August 5th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of fuboTV in a research report on Friday, June 12th. Finally, Citizens Jmp reissued a "market outperform" rating and set a $15.00 price target on shares of fuboTV in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.83.

fuboTV Stock Down 0.2%

Shares of NYSE:FUBO opened at $9.88 on Friday. fuboTV has a 52-week low of $7.95 and a 52-week high of $56.64. The firm has a fifty day moving average of $10.05 and a 200 day moving average of $10.76. The firm has a market capitalization of $298.42 million, a PE ratio of -7.69 and a beta of 2.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

fuboTV (NYSE:FUBO - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $0.04. fuboTV had a negative return on equity of 7.67% and a negative net margin of 0.71%.The business had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The firm's revenue was up 38.0% on a year-over-year basis. As a group, research analysts anticipate that fuboTV will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Mudrick Capital Management L.P. purchased a new position in fuboTV in the 2nd quarter worth approximately $12,387,000. Pacer Advisors Inc. lifted its position in fuboTV by 33.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company's stock valued at $4,666,000 after purchasing an additional 464,607 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of fuboTV by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 698,436 shares of the company's stock valued at $1,760,000 after purchasing an additional 7,136 shares during the period. HighTower Advisors LLC boosted its stake in shares of fuboTV by 2.3% during the fourth quarter. HighTower Advisors LLC now owns 522,406 shares of the company's stock valued at $1,316,000 after purchasing an additional 11,855 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of fuboTV by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 110,183 shares of the company's stock worth $1,014,000 after purchasing an additional 11,189 shares during the last quarter. Hedge funds and other institutional investors own 39.31% of the company's stock.

About fuboTV

fuboTV Inc is a sports-focused live television streaming company that provides subscribers with access to live sports, news and entertainment programming over the internet. Its service is designed as an alternative to traditional pay television, allowing customers to stream programming on connected televisions, mobile devices, computers and other supported platforms.

The company's offerings generally include packages of live television channels, sports networks and regional programming, along with features such as cloud-based digital video recording and multiview capabilities.

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