Needham & Company LLC Forecasts Strong Price Appreciation for FuboTV (NYSE:FUBO) Stock

FuboTV (NYSE:FUBO - Get Free Report) had its target price boosted by equities researchers at Needham & Company LLC from $2.00 to $3.50 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target indicates a potential upside of 14.57% from the stock's previous close.

Several other research analysts also recently issued reports on FUBO. Wedbush reiterated an "outperform" rating and set a $6.40 price target on shares of FuboTV in a research report on Friday. Huber Research upgraded shares of FuboTV to a "strong-buy" rating in a research report on Friday, January 31st. Finally, Roth Mkm reissued a "neutral" rating and issued a $4.75 price target (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four equities 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.01.

FuboTV Price Performance

FuboTV stock opened at $3.06 on Monday. FuboTV has a 52 week low of $1.10 and a 52 week high of $6.45. The firm has a market cap of $1.02 billion, a P/E ratio of -4.56 and a beta of 1.99. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The business's fifty day moving average is $3.53 and its two-hundred day moving average is $2.28.

Insider Buying and Selling at FuboTV

In other FuboTV news, COO Alberto Horihuela sold 403,847 shares of the company's stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the completion of the sale, the chief operating officer now owns 1,449,751 shares in the company, valued at approximately $8,741,998.53. The trade was a 21.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO John Janedis sold 25,823 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,861,426 shares of company stock worth $9,721,411. Company insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On FuboTV

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. United Advisor Group LLC bought a new stake in shares of FuboTV in the 3rd quarter valued at about $26,000. Xponance Inc. grew its holdings in FuboTV by 19.1% during the fourth quarter. Xponance Inc. now owns 23,002 shares of the company's stock valued at $29,000 after purchasing an additional 3,689 shares during the period. Raymond James Financial Inc. bought a new stake in FuboTV in the fourth quarter valued at approximately $35,000. Balyasny Asset Management L.P. acquired a new stake in FuboTV in the fourth quarter worth $36,000. Finally, EWG Elevate Inc. boosted its position in shares of FuboTV by 50.0% during the fourth quarter. EWG Elevate Inc. now owns 30,000 shares of the company's stock worth $38,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 39.31% of the company's stock.

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.

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