fuboTV (NYSE:FUBO) Upgraded to "Outperform" at Barrington Research

Key Points

• Barrington Research upgraded fuboTV from "market perform" to "outperform" and set a $16 price target, implying roughly a 32% upside from the prior close.
• Analyst coverage is mixed but leans positive — the consensus rating is a "Moderate Buy" with an average price target of $20.80 (1 Strong Buy, 4 Buy, 2 Hold, 1 Sell).
• Several large institutions (including Goldman Sachs, Dimensional, Millennium and First Trust) have significantly increased stakes, pushing institutional ownership to about 39.3% and coinciding with shares trading up ~24%.

fuboTV (NYSE:FUBO - Get Free Report) was upgraded by analysts at Barrington Research from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a $16.00 price target on the stock. Barrington Research's price target points to a potential upside of 32.05% from the company's previous close.

A number of other brokerages also recently issued reports on FUBO. Citizens Jmp began coverage on fuboTV in a research note on Monday, March 30th. They set a "market outperform" rating and a $13.00 price objective for the company. Zacks Research downgraded fuboTV from a "strong-buy" rating to a "hold" rating in a research note on Friday, December 12th. Wall Street Zen upgraded fuboTV from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. B. Riley Financial began coverage on fuboTV in a research note on Friday, March 27th. They set a "buy" rating and a $18.00 price objective for the company. Finally, Wedbush cut their price objective on fuboTV from $60.00 to $42.00 and set an "outperform" rating for the company in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.80.

fuboTV Trading Up 24.0%

Shares of NYSE:FUBO opened at $12.12 on Tuesday. The stock has a 50 day moving average of $15.82 and a 200 day moving average of $31.26. The company has a market cap of $356.00 million, a PE ratio of 2.24 and a beta of 2.37. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.85. fuboTV has a 12-month low of $8.31 and a 12-month high of $56.64.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUBO. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 2,010,463 shares during the period. Dimensional Fund Advisors LP boosted its stake in fuboTV by 73.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company's stock worth $19,154,000 after purchasing an additional 1,954,352 shares during the period. First Trust Advisors LP boosted its stake in fuboTV by 378.0% in the 4th quarter. First Trust Advisors LP now owns 1,524,254 shares of the company's stock worth $3,841,000 after purchasing an additional 1,205,393 shares during the period. Balyasny Asset Management L.P. bought a new position in fuboTV in the 4th quarter worth approximately $2,922,000. Finally, Millennium Management LLC boosted its stake in fuboTV by 791.5% in the 4th quarter. Millennium Management LLC now owns 1,164,025 shares of the company's stock worth $2,933,000 after purchasing an additional 1,033,453 shares during the period. 39.31% of the stock is currently owned by institutional investors.

About fuboTV

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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