FuboTV (NYSE:FUBO) Price Target Cut to $3.00 by Analysts at Needham & Company LLC

FuboTV (NYSE:FUBO) had its target price reduced by Needham & Company LLC from $3.35 to $3.00 in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. UBS Group set a $3.50 target price on FuboTV in a research report on Monday, March 3rd. Huber Research raised FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $6.40 price objective on shares of FuboTV in a report on Monday, April 28th. Finally, Roth Mkm reiterated a “neutral” rating and issued a $4.75 target price (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4.06.

FuboTV Price Performance

NYSE FUBO opened at $2.52 on Monday. The company has a 50-day moving average price of $2.98 and a two-hundred day moving average price of $2.72. FuboTV has a 52 week low of $1.10 and a 52 week high of $6.45. The stock has a market cap of $858.97 million, a price-to-earnings ratio of -3.75 and a beta of 2.19. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Activity

In other news, CFO John Janedis sold 25,823 shares of FuboTV stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 7.00% of the company’s stock.

Institutional Trading of FuboTV

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of FuboTV by 121.3% in the third quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock valued at $1,784,000 after buying an additional 688,625 shares in the last quarter. USAdvisors Wealth Management LLC grew its holdings in shares of FuboTV by 156.0% in the 4th quarter. USAdvisors Wealth Management LLC now owns 128,000 shares of the company’s stock worth $161,000 after acquiring an additional 78,000 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of FuboTV during the fourth quarter worth $57,000. Virtu Financial LLC purchased a new stake in shares of FuboTV during the fourth quarter valued at $150,000. Finally, Vanguard Group Inc. lifted its holdings in shares of FuboTV by 8.0% during the fourth quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company’s stock valued at $23,532,000 after purchasing an additional 1,377,663 shares during the last quarter. 39.31% of the stock is owned by institutional investors and hedge funds.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.