fuboTV (NYSE:FUBO) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of fuboTV (NYSE:FUBOGet Rating) from a buy rating to a hold rating in a research note published on Tuesday morning, 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 equities research analysts also recently issued reports about the stock. Evercore ISI decreased their price target on shares of fuboTV from $20.00 to $7.00 in a research note on Friday, May 6th. Wedbush dropped their price target on fuboTV from $53.00 to $32.00 in a research note on Tuesday, January 11th. Needham & Company LLC cut their price target on fuboTV from $15.00 to $5.00 in a report on Friday, May 6th. Stephens began coverage on fuboTV in a report on Monday, April 25th. They set an equal weight rating and a $6.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered shares of fuboTV from a neutral rating to an underweight rating in a report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $14.68.

Shares of NYSE FUBO opened at $3.35 on Tuesday. The company has a market capitalization of $620.02 million, a PE ratio of -1.09 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 twelve month low of $2.82 and a twelve month high of $35.10. The firm has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $13.24.

fuboTV (NYSE:FUBOGet Rating) last posted its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.10). The business had revenue of $231.06 million during the quarter, compared to the consensus estimate of $213.27 million. fuboTV had a negative return on equity of 66.29% and a negative net margin of 59.50%. The business’s revenue was up 119.9% on a year-over-year basis. During the same period last year, the business posted ($0.39) earnings per share. As a group, equities analysts expect that fuboTV will post -2.69 earnings per share for the current fiscal year.

In other news, insider Alberto Horihuela sold 161,454 shares of the company’s stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $7.56, for a total transaction of $1,220,592.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Gandler purchased 46,000 shares of the business’s stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of $2.98 per share, with a total value of $137,080.00. Following the purchase, the chief executive officer now directly owns 1,322,564 shares in the company, valued at approximately $3,941,240.72. The disclosure for this purchase can be found here. 13.20% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB purchased a new stake in shares of fuboTV in the fourth quarter worth $359,000. Allspring Global Investments Holdings LLC bought a new position in fuboTV in the 4th quarter worth about $625,000. Royal Bank of Canada raised its holdings in shares of fuboTV by 54.1% in the 3rd quarter. Royal Bank of Canada now owns 90,197 shares of the company’s stock valued at $2,161,000 after acquiring an additional 31,684 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of fuboTV during the 3rd quarter valued at about $2,186,000. Finally, Oxbow Advisors LLC purchased a new position in shares of fuboTV during the third quarter worth about $311,000. 37.30% of the stock is currently owned by hedge funds and other institutional investors.

fuboTV Company Profile (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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