Zacks Research Downgrades fuboTV (NYSE:FUBO) to Hold

fuboTV (NYSE:FUBO) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

FUBO has been the topic of a number of other reports. Weiss Ratings upgraded shares of fuboTV from a “sell (e-)” rating to a “sell (e+)” rating in a research note on Friday, May 8th. B. Riley Financial assumed coverage on shares of fuboTV in a research report on Friday, March 27th. They issued a “buy” rating and a $18.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of fuboTV in a research report on Wednesday, May 20th. Barrington Research reissued an “outperform” rating and issued a $16.00 target price on shares of fuboTV in a report on Tuesday, April 28th. Finally, Wall Street Zen cut fuboTV from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.50.

fuboTV Stock Up 0.7%

fuboTV stock opened at $9.77 on Monday. The firm has a market capitalization of $287.48 million, a P/E ratio of -7.69 and a beta of 2.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. fuboTV has a twelve month low of $8.31 and a twelve month high of $56.64. The stock’s fifty day simple moving average is $10.83 and its 200-day simple moving average is $20.35.

fuboTV (NYSE:FUBO) last released its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.28. fuboTV had a negative return on equity of 5.52% and a negative net margin of 0.90%.The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm posted $0.55 EPS. fuboTV’s revenue for the quarter was up 278.1% on a year-over-year basis. As a group, equities analysts expect that fuboTV will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On fuboTV

Several hedge funds and other institutional investors have recently bought and sold shares of FUBO. Federated Hermes Inc. lifted its position in fuboTV by 177.4% in the third quarter. Federated Hermes Inc. now owns 6,900 shares of the company’s stock valued at $29,000 after acquiring an additional 4,413 shares during the last quarter. Hurley Capital LLC purchased a new stake in shares of fuboTV in the 4th quarter valued at about $25,000. Concurrent Investment Advisors LLC acquired a new stake in shares of fuboTV in the 4th quarter valued at about $26,000. Focus Partners Wealth purchased a new position in fuboTV during the 1st quarter worth approximately $30,000. Finally, First Trust Advisors LP acquired a new position in fuboTV during the second quarter worth approximately $44,000. 39.31% of the stock is currently owned by institutional investors and hedge funds.

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.