Needham & Company LLC Reiterates Buy Rating for fuboTV (NYSE:FUBO)

fuboTV (NYSE:FUBO)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $15.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 63.33% from the stock’s previous close.

A number of other research analysts also recently commented on FUBO. Barrington Research reissued an “outperform” rating and set a $16.00 target price on shares of fuboTV in a research report on Tuesday, April 28th. Citizens Jmp initiated coverage on fuboTV in a report on Monday, March 30th. They set a “market outperform” rating and a $13.00 target price for the company. Weiss Ratings upgraded fuboTV from a “sell (e-)” rating to a “sell (e+)” rating in a report on Friday, May 8th. Evercore began coverage on fuboTV in a research note on Friday, May 1st. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, B. Riley Financial began coverage on shares of fuboTV in a research report on Friday, March 27th. They set a “buy” rating and a $18.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.50.

fuboTV Trading Down 2.1%

Shares of NYSE FUBO opened at $9.18 on Wednesday. The company has a market cap of $270.38 million, a price-to-earnings ratio of -7.23 and a beta of 2.50. fuboTV has a fifty-two week low of $8.31 and a fifty-two week high of $56.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $11.76 and its 200-day moving average price is $24.00.

fuboTV (NYSE:FUBO) last issued its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.28. fuboTV had a negative return on equity of 5.52% and a negative net margin of 0.90%.The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 278.1% compared to the same quarter last year. On average, sell-side analysts expect that fuboTV will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On fuboTV

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUBO. Principal Financial Group Inc. grew its position in fuboTV by 2,342.4% during the third quarter. Principal Financial Group Inc. now owns 579,749 shares of the company’s stock valued at $2,406,000 after buying an additional 556,012 shares during the period. Wealthfront Advisers LLC grew its position in fuboTV by 101.5% during the third quarter. Wealthfront Advisers LLC now owns 99,957 shares of the company’s stock valued at $415,000 after buying an additional 50,362 shares during the period. Oppenheimer & Co. Inc. grew its position in fuboTV by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 785,307 shares of the company’s stock valued at $3,259,000 after buying an additional 9,474 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in fuboTV by 39.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,249 shares of the company’s stock valued at $109,000 after buying an additional 7,953 shares during the period. Finally, Federated Hermes Inc. grew its position in fuboTV by 177.4% during the third quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock valued at $29,000 after buying an additional 4,413 shares during the period. 39.31% of the stock is owned by institutional investors and hedge funds.

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.