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 note issued to investors on Tuesday, 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. “

A number of other equities research analysts have also recently commented on FUBO. BMO Capital Markets raised their price target on shares of fuboTV from $25.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday, August 11th. Evercore ISI lifted their price objective on shares of fuboTV from $30.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, August 11th. Needham & Company LLC started coverage on shares of fuboTV in a report on Thursday, July 1st. They set a “buy” rating and a $60.00 price objective for the company. Finally, Roth Capital lifted their price objective on shares of fuboTV from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, August 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, fuboTV has an average rating of “Buy” and a consensus target price of $40.56.

Shares of NYSE FUBO opened at $27.24 on Tuesday. fuboTV has a twelve month low of $9.26 and a twelve month high of $62.29. The firm has a fifty day simple moving average of $26.93 and a 200 day simple moving average of $25.41. The company has a market capitalization of $3.86 billion, a PE ratio of -2.74 and a beta of 2.90. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.51.

fuboTV (NYSE:FUBO) last announced its earnings results on Tuesday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.11. The business had revenue of $130.90 million during the quarter, compared to the consensus estimate of $121.43 million. fuboTV had a negative net margin of 145.60% and a negative return on equity of 66.67%. The company’s quarterly revenue was up 196.2% compared to the same quarter last year. As a group, equities analysts expect that fuboTV will post -2.55 earnings per share for the current fiscal year.

In related news, CMO Alberto Horihuela sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $33.00, for a total transaction of $2,475,000.00. Following the transaction, the chief marketing officer now directly owns 1,150,306 shares in the company, valued at $37,960,098. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.20% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC raised its position in fuboTV by 36.2% in the third quarter. Foundations Investment Advisors LLC now owns 17,174 shares of the company’s stock worth $404,000 after acquiring an additional 4,560 shares during the period. IFP Advisors Inc bought a new stake in fuboTV in the third quarter worth about $28,000. Newbridge Financial Services Group Inc. bought a new stake in fuboTV in the second quarter worth about $1,040,000. Parametric Portfolio Associates LLC bought a new stake in fuboTV in the second quarter worth about $1,063,000. Finally, IronBridge Private Wealth LLC bought a new stake in fuboTV in the second quarter worth about $32,000. Institutional investors and hedge funds own 37.69% of the company’s stock.

fuboTV Company Profile

fuboTV, Inc operates as a digital entertainment company. It focuses on offering consumers a live television (TV) streaming platform for sports, news and entertainment through fuboTV. 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.

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