fuboTV (NYSE:FUBO) Raised to Buy at Wall Street Zen

Key Points

• fuboTV's stock rating was upgraded from "hold" to "buy" by analysts at Wall Street Zen, reflecting a positive shift in market sentiment.
• Investment firm Needham & Company increased their target price on fuboTV from $3.00 to $4.25, while Wedbush set a new target of $6.00, indicating strong confidence in the company's future performance.
• Recent insider trading activities included notable sales, with directors reducing their ownership stakes, which could raise questions about internal confidence in the company's current valuation.

fuboTV (NYSE:FUBO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the company. Needham & Company LLC lifted their target price on fuboTV from $3.00 to $4.25 and gave the company a "buy" rating in a research note on Wednesday. Wedbush restated an "outperform" rating and set a $6.00 price objective (up from $5.00) on shares of fuboTV in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4.63.

fuboTV Stock Performance

FUBO opened at $3.76 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. The business's 50 day moving average is $3.50 and its 200-day moving average is $3.36. The stock has a market cap of $1.28 billion, a PE ratio of 18.80 and a beta of 2.28. fuboTV has a twelve month low of $1.15 and a twelve month high of $6.45.

Insider Buying and Selling at fuboTV

In related news, Director Daniel V. Leff sold 75,339 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $4.14, for a total transaction of $311,903.46. Following the completion of the transaction, the director owned 375,395 shares of the company's stock, valued at $1,554,135.30. This trade represents a 16.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ignacio Figueras sold 66,061 shares of fuboTV stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $4.26, for a total value of $281,419.86. Following the transaction, the director directly owned 402,009 shares in the company, valued at approximately $1,712,558.34. The trade was a 14.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 241,400 shares of company stock valued at $985,323. 5.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On fuboTV

Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of fuboTV during the first quarter valued at $8,930,000. Vanguard Group Inc. raised its holdings in fuboTV by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 21,144,463 shares of the company's stock worth $61,742,000 after buying an additional 2,468,067 shares during the period. Renaissance Technologies LLC lifted its stake in fuboTV by 45.1% during the fourth quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company's stock valued at $5,449,000 after buying an additional 1,344,956 shares in the last quarter. Jump Financial LLC purchased a new stake in fuboTV during the first quarter valued at about $3,752,000. Finally, Two Sigma Investments LP boosted its holdings in shares of fuboTV by 4,635.3% in the fourth quarter. Two Sigma Investments LP now owns 512,591 shares of the company's stock worth $646,000 after buying an additional 501,766 shares during the period. 39.31% of the stock is owned by institutional investors and hedge funds.

About fuboTV

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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