Needham & Company LLC Trims fuboTV (NYSE:FUBO) Target Price to $5.00

fuboTV (NYSE:FUBOGet Rating) had its price target reduced by equities researchers at Needham & Company LLC from $15.00 to $5.00 in a research note issued on Friday, The Fly reports. Needham & Company LLC’s price target suggests a potential upside of 55.76% from the company’s previous close.

A number of other analysts have also issued reports on the company. Zacks Investment Research raised fuboTV from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Wednesday, April 27th. Stephens started coverage on shares of fuboTV in a research note on Monday, April 25th. They issued an “equal weight” rating and a $6.00 price target for the company. JPMorgan Chase & Co. downgraded shares of fuboTV from a “neutral” rating to an “underweight” rating in a research note on Friday. Roth Capital downgraded shares of fuboTV from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $7.50 to $4.25 in a research note on Friday. Finally, Evercore ISI dropped their price target on shares of fuboTV from $20.00 to $7.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.68.

NYSE FUBO traded down $0.91 on Friday, reaching $3.21. The stock had a trading volume of 379,032 shares, compared to its average volume of 12,589,190. The firm has a market capitalization of $594.11 million, a price-to-earnings ratio of -1.14 and a beta of 3.69. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.47. fuboTV has a 12-month low of $3.68 and a 12-month high of $35.10. The stock has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $14.01.

fuboTV (NYSE:FUBOGet Rating) last announced its earnings results on Wednesday, February 23rd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.10). The firm had revenue of $231.06 million during the quarter, compared to analysts’ expectations of $213.27 million. fuboTV had a negative net margin of 59.84% and a negative return on equity of 52.98%. The firm’s revenue for the quarter was up 119.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.39) EPS. Sell-side analysts forecast that fuboTV will post -2.69 earnings per share for the current fiscal year.

In related news, insider Alberto Horihuela sold 161,454 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $7.56, for a total value of $1,220,592.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FUBO. Marshall Wace LLP raised its holdings in shares of fuboTV by 121.1% in the third quarter. Marshall Wace LLP now owns 2,667,568 shares of the company’s stock valued at $63,916,000 after buying an additional 1,460,860 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in fuboTV by 42.7% during the third quarter. Zevenbergen Capital Investments LLC now owns 3,006,567 shares of the company’s stock worth $72,037,000 after purchasing an additional 899,501 shares in the last quarter. BlackRock Inc. raised its holdings in fuboTV by 7.9% during the fourth quarter. BlackRock Inc. now owns 9,812,364 shares of the company’s stock worth $152,287,000 after purchasing an additional 721,936 shares in the last quarter. Norges Bank purchased a new position in fuboTV during the fourth quarter worth about $10,140,000. Finally, Man Group plc purchased a new position in fuboTV during the third quarter worth about $10,615,000. 37.30% of the stock is owned by hedge funds and other institutional investors.

About fuboTV (Get Rating)

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. 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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