FuboTV (NYSE:FUBO) Price Target Lowered to $3.00 at Needham & Company LLC

FuboTV (NYSE:FUBO - Get Free Report) had its target price reduced by stock analysts at Needham & Company LLC from $3.35 to $3.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price target points to a potential upside of 24.48% from the stock's previous close.

Other analysts also recently issued reports about the company. UBS Group set a $3.50 price target on FuboTV in a research note on Monday, March 3rd. Roth Mkm reaffirmed a "neutral" rating and set a $4.75 price target (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Wedbush reiterated an "outperform" rating and issued a $6.40 price objective on shares of FuboTV in a research note on Monday, April 28th. Finally, Huber Research raised FuboTV to a "strong-buy" rating in a report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FuboTV has an average rating of "Moderate Buy" and an average target price of $4.41.

FuboTV Price Performance

Shares of NYSE:FUBO opened at $2.41 on Monday. FuboTV has a 52 week low of $1.10 and a 52 week high of $6.45. The company has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.72. The company has a market cap of $823.11 million, a P/E ratio of -3.60 and a beta of 2.19. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In other news, CFO John Janedis sold 25,823 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $4.16, for a total transaction of $107,423.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On FuboTV

A number of hedge funds have recently made changes to their positions in FUBO. The Manufacturers Life Insurance Company raised its holdings in FuboTV by 2.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company's stock valued at $138,000 after buying an additional 2,668 shares during the period. Corebridge Financial Inc. increased its holdings in FuboTV by 2.1% in the 4th quarter. Corebridge Financial Inc. now owns 160,328 shares of the company's stock valued at $202,000 after purchasing an additional 3,321 shares in the last quarter. Xponance Inc. raised its position in FuboTV by 19.1% in the fourth quarter. Xponance Inc. now owns 23,002 shares of the company's stock valued at $29,000 after purchasing an additional 3,689 shares during the period. Principal Financial Group Inc. lifted its stake in shares of FuboTV by 23.3% during the first quarter. Principal Financial Group Inc. now owns 22,468 shares of the company's stock worth $66,000 after purchasing an additional 4,239 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of FuboTV by 17.0% in the first quarter. SBI Securities Co. Ltd. now owns 52,925 shares of the company's stock worth $155,000 after buying an additional 7,705 shares during the period. Institutional investors and hedge funds own 39.31% of the company's stock.

FuboTV Company Profile

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.

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