Wedbush Issues Pessimistic Forecast for fuboTV (NYSE:FUBO) Stock Price

fuboTV (NYSE:FUBO) had its price target reduced by equities research analysts at Wedbush from $24.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s target price indicates a potential upside of 85.40% from the stock’s current price.

Several other research firms have also recently weighed in on FUBO. Wall Street Zen upgraded shares of fuboTV from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. B. Riley Financial assumed coverage on fuboTV in a report on Friday, March 27th. They issued a “buy” rating and a $18.00 price target for the company. Barrington Research reiterated an “outperform” rating and issued a $16.00 price objective on shares of fuboTV in a research report on Tuesday, April 28th. Zacks Research upgraded fuboTV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Finally, Citizens Jmp assumed coverage on fuboTV in a research report on Monday, March 30th. They issued a “market outperform” rating and a $13.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

fuboTV Price Performance

NYSE:FUBO opened at $10.25 on Thursday. The stock has a market cap of $301.70 million, a P/E ratio of -8.07 and a beta of 2.50. fuboTV has a one year low of $8.31 and a one year high of $56.64. The company has a fifty day moving average price of $12.50 and a 200 day moving average price of $25.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.84.

fuboTV (NYSE:FUBO) last released its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.28. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. fuboTV had a negative net margin of 0.90% and a negative return on equity of 5.52%. The business’s quarterly revenue was up 278.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. Analysts anticipate that fuboTV will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On fuboTV

A number of institutional investors and hedge funds have recently bought and sold shares of FUBO. Hurley Capital LLC acquired a new stake in shares of fuboTV in the fourth quarter valued at $25,000. Concurrent Investment Advisors LLC bought a new position in shares of fuboTV in the fourth quarter valued at about $26,000. Federated Hermes Inc. lifted its position in fuboTV by 177.4% during the 3rd quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock worth $29,000 after buying an additional 4,413 shares in the last quarter. Ground Swell Capital LLC acquired a new position in fuboTV during the 4th quarter worth about $30,000. Finally, Focus Partners Wealth bought a new stake in fuboTV during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

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.