fuboTV (NYSE:FUBO) Price Target Raised to $4.25

Key Points

• Needham & Company LLC has raised its price target for fuboTV from $3.00 to $4.25, indicating a potential upside of 20.98% from the current price.
• The stock currently holds a moderate buy consensus rating, with three analysts suggesting hold, one buy, and two strong buy ratings.
• fuboTV has experienced significant institutional interest, with notable investments from firms like Vanguard Group Inc. and Renaissance Technologies LLC, increasing their holdings in the company.

fuboTV (NYSE:FUBO - Free Report) had its price objective boosted by Needham & Company LLC from $3.00 to $4.25 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Wedbush raised shares of fuboTV to a "strong-buy" rating in a report on Tuesday, July 1st. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $4.63.

fuboTV Stock Performance

FUBO stock traded down $0.21 during trading on Wednesday, hitting $3.77. 4,610,622 shares of the company's stock traded hands, compared to its average volume of 27,702,182. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 18.88 and a beta of 2.22. fuboTV has a 52 week low of $1.15 and a 52 week high of $6.45. The stock has a fifty day moving average price of $3.49 and a two-hundred day moving average price of $3.36. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.48.

Institutional Investors Weigh In On fuboTV

Several large investors have recently added to or reduced their stakes in FUBO. State of Wyoming grew its position in shares of fuboTV by 125.5% during the fourth quarter. State of Wyoming now owns 233,031 shares of the company's stock worth $294,000 after acquiring an additional 129,699 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in fuboTV by 8.1% during the 1st quarter. Bank of New York Mellon Corp now owns 983,346 shares of the company's stock valued at $2,871,000 after purchasing an additional 74,001 shares during the period. Northern Trust Corp grew its position in fuboTV by 16.9% in the 4th quarter. Northern Trust Corp now owns 2,999,809 shares of the company's stock worth $3,780,000 after purchasing an additional 434,406 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of fuboTV by 8.0% in the fourth quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company's stock valued at $23,532,000 after purchasing an additional 1,377,663 shares during the period. Finally, MetLife Investment Management LLC raised its holdings in shares of fuboTV by 19.6% during the fourth quarter. MetLife Investment Management LLC now owns 201,512 shares of the company's stock valued at $254,000 after buying an additional 32,963 shares during the last quarter. 39.31% of the stock is owned by institutional investors and hedge funds.

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.