Wedbush Reiterates “Outperform” Rating for fuboTV (NYSE:FUBO)

fuboTV (NYSE:FUBO)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Friday, Benzinga reports. They presently have a $19.00 price target on the stock. Wedbush’s price target indicates a potential upside of 92.31% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of fuboTV in a report on Wednesday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of fuboTV in a research note on Friday, June 12th. Citigroup reaffirmed a “market outperform” rating on shares of fuboTV in a research note on Thursday, June 11th. Zacks Research cut shares of fuboTV from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $15.00 price objective on shares of fuboTV in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, fuboTV presently has a consensus rating of “Moderate Buy” and an average target price of $16.83.

fuboTV Stock Performance

Shares of NYSE:FUBO opened at $9.88 on Friday. The company has a market cap of $298.42 million, a price-to-earnings ratio of -7.69 and a beta of 2.41. The company has a 50-day moving average price of $10.05 and a 200-day moving average price of $10.76. 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 $7.95 and a 12 month high of $56.64.

fuboTV (NYSE:FUBO) last posted its earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.04. fuboTV had a negative net margin of 0.71% and a negative return on equity of 7.67%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted ($0.02) earnings per share. fuboTV’s revenue for the quarter was up 38.0% on a year-over-year basis. As a group, equities analysts anticipate that fuboTV will post -0.29 EPS for the current year.

Institutional Investors Weigh In On fuboTV

Several hedge funds have recently made changes to their positions in FUBO. Mudrick Capital Management L.P. bought a new stake in fuboTV in the 2nd quarter worth about $12,387,000. Pacer Advisors Inc. lifted its stake in fuboTV by 33.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,851,690 shares of the company’s stock valued at $4,666,000 after acquiring an additional 464,607 shares during the period. Virtu Financial LLC bought a new position in fuboTV during the 4th quarter valued at about $802,000. HighTower Advisors LLC bought a new position in fuboTV during the 2nd quarter valued at about $775,000. Finally, Corient Private Wealth LP purchased a new stake in shares of fuboTV during the 2nd quarter valued at about $595,000. 39.31% of the stock is currently owned by institutional investors.

fuboTV Company Profile

fuboTV Inc is a sports-focused live television streaming company that provides subscribers with access to live sports, news and entertainment programming over the internet. Its service is designed as an alternative to traditional pay television, allowing customers to stream programming on connected televisions, mobile devices, computers and other supported platforms.

The company’s offerings generally include packages of live television channels, sports networks and regional programming, along with features such as cloud-based digital video recording and multiview capabilities.