B. Riley Financial Has Lowered Expectations for fuboTV (NYSE:FUBO) Stock Price

fuboTV (NYSE:FUBO) had its price objective cut by investment analysts at B. Riley Financial from $18.00 to $16.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s price target points to a potential upside of 106.24% from the stock’s previous close.

A number of other brokerages also recently issued reports on FUBO. Weiss Ratings restated a “sell (e+)” rating on shares of fuboTV in a research report on Wednesday, August 5th. Wedbush reiterated an “outperform” rating and issued a $19.00 target price on shares of fuboTV in a report on Friday, September 18th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

fuboTV Stock Up 1.1%

Shares of NYSE:FUBO opened at $7.76 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45. fuboTV has a 12 month low of $7.44 and a 12 month high of $44.76. The company has a 50-day moving average price of $9.04 and a 200 day moving average price of $11.30. The company has a market cap of $234.29 million, a price-to-earnings ratio of -6.04 and a beta of 2.37.

fuboTV (NYSE:FUBO) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.04. fuboTV had a negative return on equity of 7.67% and a negative net margin of 0.71%. During the same quarter in the previous year, the company earned ($0.02) EPS. The firm’s revenue was up 38.0% on a year-over-year basis. As a group, equities research analysts predict that fuboTV will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On fuboTV

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of fuboTV by 792.2% in the third quarter. Versant Capital Management Inc now owns 2,855 shares of the company’s stock valued at $26,000 after acquiring an additional 2,535 shares during the period. Global Retirement Partners LLC boosted its stake in shares of fuboTV by 87,625.0% during the 3rd quarter. Global Retirement Partners LLC now owns 3,509 shares of the company’s stock worth $31,000 after purchasing an additional 3,505 shares during the period. GAMMA Investing LLC grew its holdings in fuboTV by 126.0% during the 3rd quarter. GAMMA Investing LLC now owns 7,029 shares of the company’s stock valued at $63,000 after purchasing an additional 3,919 shares during the last quarter. Byrne Asset Management LLC grew its holdings in fuboTV by 64.0% during the 2nd quarter. Byrne Asset Management LLC now owns 17,120 shares of the company’s stock valued at $158,000 after purchasing an additional 6,680 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in fuboTV by 384.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 9,199 shares of the company’s stock valued at $82,000 after purchasing an additional 7,302 shares during the last quarter. Hedge funds and other institutional investors own 39.31% of the company’s stock.

About fuboTV

FuboTV Inc., which operates under the Fubo name, is a live-TV streaming company with a focus on sports. Its subscription service offers live sports programming alongside news and entertainment channels, providing an internet-based alternative to traditional pay television. The service includes packages with different channel selections and may offer add-ons and features such as cloud DVR, depending on the market and plan. Fubo began in 2015 as a streaming service focused on soccer and later expanded into a broader live-TV offering.