Needham & Company LLC Issues Positive Forecast for FuboTV (NYSE:FUBO) Stock Price

FuboTV (NYSE:FUBO) had its price objective raised by Needham & Company LLC from $2.00 to $3.50 in a report issued on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently commented on FUBO. Roth Mkm reissued a “neutral” rating and issued a $4.75 price objective (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Huber Research raised FuboTV to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Wedbush reissued an “outperform” rating and issued a $6.40 price objective on shares of FuboTV in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.39.

FuboTV Stock Up 2.5 %

Shares of NYSE:FUBO opened at $3.09 on Monday. The firm has a market cap of $1.03 billion, a P/E ratio of -4.60 and a beta of 2.02. FuboTV has a 52-week low of $1.10 and a 52-week high of $6.45. The business’s 50 day simple moving average is $3.63 and its two-hundred day simple moving average is $2.30. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54.

Insider Activity at FuboTV

In related news, CFO John Janedis sold 25,823 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $4.16, for a total transaction of $107,423.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Alberto Horihuela sold 403,847 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total value of $2,435,197.41. Following the sale, the chief operating officer now directly owns 1,449,751 shares of the company’s stock, valued at $8,741,998.53. The trade was a 21.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,861,426 shares of company stock valued at $9,721,411. 7.00% of the stock is owned by insiders.

Institutional Trading of FuboTV

A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in FuboTV by 2.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 109,816 shares of the company’s stock worth $138,000 after buying an additional 2,668 shares during the last quarter. Corebridge Financial Inc. increased its position in FuboTV by 2.1% in the fourth quarter. Corebridge Financial Inc. now owns 160,328 shares of the company’s stock worth $202,000 after buying an additional 3,321 shares during the last quarter. Xponance Inc. increased its position in FuboTV by 19.1% in the fourth quarter. Xponance Inc. now owns 23,002 shares of the company’s stock worth $29,000 after buying an additional 3,689 shares during the last quarter. Invesco Ltd. increased its position in FuboTV by 1.8% in the fourth quarter. Invesco Ltd. now owns 487,104 shares of the company’s stock worth $614,000 after buying an additional 8,475 shares during the last quarter. Finally, Arizona State Retirement System increased its position in FuboTV by 10.7% in the fourth quarter. Arizona State Retirement System now owns 95,578 shares of the company’s stock worth $120,000 after buying an additional 9,230 shares during the last quarter. 39.31% of the stock is owned by hedge funds and other institutional investors.

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.