fuboTV (NYSE:FUBO) Rating Lowered to Sell at Zacks Investment Research

fuboTV (NYSE:FUBO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “FuboTV offer sports first live TV streaming platform as well as news and entertainment content. FuboTV is based in New York, United States. “

Other analysts also recently issued reports about the company. Roth Capital reduced their price target on fuboTV from $55.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, May 12th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target on shares of fuboTV in a research note on Monday, March 29th. Oppenheimer dropped their price objective on shares of fuboTV from $45.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, March 9th. Barrington Research cut their price objective on shares of fuboTV from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, May 13th. Finally, BMO Capital Markets lowered their target price on shares of fuboTV from $50.00 to $45.00 in a report on Wednesday, March 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $40.78.

Shares of NYSE FUBO opened at $27.83 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market cap of $3.91 billion, a P/E ratio of -2.30 and a beta of 2.82. fuboTV has a 12 month low of $8.12 and a 12 month high of $62.29. The business’s 50 day simple moving average is $21.76.

fuboTV (NYSE:FUBO) last announced its quarterly earnings results on Tuesday, May 11th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.09). The business had revenue of $119.70 million for the quarter, compared to analyst estimates of $103.54 million. fuboTV had a negative net margin of 185.09% and a negative return on equity of 110.20%. The firm’s revenue for the quarter was up 1539.7% on a year-over-year basis. On average, equities analysts predict that fuboTV will post -1.9 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sib LLC acquired a new stake in shares of fuboTV in the 1st quarter valued at $2,815,000. Exchange Traded Concepts LLC acquired a new stake in fuboTV in the first quarter valued at about $1,656,000. NEXT Financial Group Inc grew its position in fuboTV by 1,463.5% in the first quarter. NEXT Financial Group Inc now owns 9,897 shares of the company’s stock valued at $219,000 after acquiring an additional 9,264 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in fuboTV during the fourth quarter worth about $14,619,000. Finally, Caas Capital Management LP bought a new position in shares of fuboTV in the fourth quarter worth about $69,118,000. Hedge funds and other institutional investors own 30.86% of the company’s stock.

About fuboTV

fuboTV Inc operates a live TV streaming platform for live sports events, news, and entertainment content in the United States and Europe. Its fuboTV platform allows customers to access content through streaming devices, as well as on SmartTVs, computers, mobile phones, and tablets. The company is headquartered in New York, New York.

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