fuboTV (NYSE:FUBO) Downgraded by Zacks Research to “Hold”

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

Several other research analysts have also recently weighed in on the company. Barrington Research restated an “outperform” rating and set a $16.00 target price on shares of fuboTV in a report on Tuesday, April 28th. Citizens Jmp assumed coverage on fuboTV in a report on Monday, March 30th. They issued a “market outperform” rating and a $13.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of fuboTV in a research report on Wednesday, May 20th. B. Riley Financial started coverage on fuboTV in a research note on Friday, March 27th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Wall Street Zen downgraded fuboTV from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

fuboTV Trading Up 0.7%

Shares of FUBO opened at $9.77 on Monday. fuboTV has a 52-week low of $8.31 and a 52-week high of $56.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm’s fifty day moving average is $10.83 and its two-hundred day moving average is $20.35. The stock has a market cap of $287.48 million, a PE ratio of -7.69 and a beta of 2.41.

fuboTV (NYSE:FUBO) last issued its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.28. fuboTV had a negative net margin of 0.90% and a negative return on equity of 5.52%. The business had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 278.1% compared to the same quarter last year. Research analysts forecast that fuboTV will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On fuboTV

Hedge funds have recently modified their holdings of the business. Hurley Capital LLC acquired a new stake in shares of fuboTV during the fourth quarter valued at about $25,000. Concurrent Investment Advisors LLC purchased a new stake in fuboTV in the fourth quarter valued at approximately $26,000. Federated Hermes Inc. raised 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 purchasing an additional 4,413 shares during the period. Ground Swell Capital LLC acquired a new position in fuboTV during the fourth quarter worth $30,000. Finally, Focus Partners Wealth purchased a new position in shares of fuboTV during the first quarter worth $30,000. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

About fuboTV

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.