fuboTV (NYSE:FUBO) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of fuboTV (NYSE:FUBO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also recently commented on the company. Needham & Company LLC reduced their target price on fuboTV from $36.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Weiss Ratings raised fuboTV from a “sell (e-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. Citizens Jmp began coverage on fuboTV in a research note on Monday, March 30th. They issued a “market outperform” rating and a $13.00 target price on the stock. Evercore began coverage on fuboTV in a research note on Friday, May 1st. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Zacks Research raised fuboTV from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

fuboTV Price Performance

fuboTV stock opened at $9.61 on Friday. fuboTV has a 12 month low of $8.31 and a 12 month high of $56.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $11.99 and its 200 day simple moving average is $24.34. The company has a market cap of $283.01 million, a price-to-earnings ratio of -7.57 and a beta of 2.50.

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

Institutional Trading of fuboTV

Several institutional investors and hedge funds have recently bought and sold shares of FUBO. Goldman Sachs Group Inc. lifted its holdings in fuboTV by 124.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,631,853 shares of the company’s stock worth $9,152,000 after buying an additional 2,010,463 shares during the period. Dimensional Fund Advisors LP lifted its holdings in fuboTV by 73.5% in the third quarter. Dimensional Fund Advisors LP now owns 4,614,497 shares of the company’s stock worth $19,154,000 after buying an additional 1,954,352 shares during the period. First Trust Advisors LP lifted its holdings in fuboTV by 378.0% in the fourth quarter. First Trust Advisors LP now owns 1,524,254 shares of the company’s stock worth $3,841,000 after buying an additional 1,205,393 shares during the period. Balyasny Asset Management L.P. purchased a new stake in fuboTV in the fourth quarter worth about $2,922,000. Finally, Millennium Management LLC lifted its holdings in fuboTV by 791.5% in the fourth quarter. Millennium Management LLC now owns 1,164,025 shares of the company’s stock worth $2,933,000 after buying an additional 1,033,453 shares during the period. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

fuboTV Company Profile

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.