fuboTV (NYSE:FUBO) Price Target Cut to $15.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut its price target on fuboTV from $36.00 to $15.00 while maintaining a "buy" rating, with the new target implying about a 54.7% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of "Hold" with an average price target of $25.00 (three Buys, two Holds, one Sell).
• Shares trade around $9.70 with a market cap of ~$284.9M, and notable insider activity includes CEO David Gandler selling 14,189 shares in January, while insiders are reported to own 74.31% of the stock.

fuboTV (NYSE:FUBO - Get Free Report) had its price objective reduced by equities research analysts at Needham & Company LLC from $36.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 54.70% from the company's previous close.

A number of other equities research analysts also recently weighed in on FUBO. Wall Street Zen raised fuboTV from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Raymond James Financial assumed coverage on fuboTV in a report on Monday, December 1st. They issued a "market perform" rating on the stock. Wedbush cut their price objective on shares of fuboTV from $60.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, February 5th. Zacks Research cut shares of fuboTV from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 12th. Finally, B. Riley Financial started coverage on shares of fuboTV in a research report on Friday. They issued a "buy" rating and a $18.00 target price for the company. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, fuboTV presently has a consensus rating of "Hold" and an average price target of $25.00.

fuboTV Stock Up 0.4%

Shares of NYSE FUBO traded up $0.04 during mid-day trading on Friday, reaching $9.70. The company had a trading volume of 1,215,485 shares, compared to its average volume of 1,380,533. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.84 and a current ratio of 0.84. fuboTV has a twelve month low of $9.35 and a twelve month high of $56.64. The stock's 50 day moving average is $18.82 and its 200-day moving average is $33.20. The stock has a market capitalization of $284.88 million, a PE ratio of 1.80 and a beta of 2.14.

Insider Buying and Selling at fuboTV

In related news, CEO David Gandler sold 14,189 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $30.60, for a total value of $434,183.40. Following the transaction, the chief executive officer directly owned 46,785 shares of the company's stock, valued at approximately $1,431,621. This trade represents a 23.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 74.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On fuboTV

A number of institutional investors have recently modified their holdings of the company. Two Sigma Investments LP lifted its stake in shares of fuboTV by 12.2% in the third quarter. Two Sigma Investments LP now owns 6,745,483 shares of the company's stock worth $27,994,000 after buying an additional 734,142 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in fuboTV by 19.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,518,329 shares of the company's stock valued at $13,906,000 after buying an additional 903,832 shares during the last quarter. Jump Financial LLC raised its holdings in fuboTV by 189.6% in the 2nd quarter. Jump Financial LLC now owns 3,721,263 shares of the company's stock worth $14,364,000 after acquiring an additional 2,436,479 shares during the period. Goldman Sachs Group Inc. raised its holdings in fuboTV by 124.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,631,853 shares of the company's stock worth $9,152,000 after acquiring an additional 2,010,463 shares during the period. Finally, Pacer Advisors Inc. lifted its position in fuboTV by 33.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company's stock worth $4,666,000 after acquiring an additional 464,607 shares during the last quarter. 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.

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