Streaming television company fuboTV got an extremely optimistic outlook from analysts at Needham.
While analysts at Needham maintained their buy rating, they doubled their price target on fuboTV shares to $60 per share.
Analyst Laura Martin noted that they view FUBO as an “inexpensive” option for public investors to participate in the US consumer shift toward OTT and Streaming TV. “FUBO is a skinny bundle (also known as a virtual MVPD) that markets itself as a 'sports-first' linear TV replacement. FUBO offers over 110 channels of live linear TV that represent about 84% of a typical large bundle's TV viewing, at $60/month, about half the typical MVPD price," Martin said.
According to Needham, the key upside value drivers for fuboTV in 2021 include market share gains against rivals, expansion of the fubo sports button's availability, the company moving towards including a gambling revenue stream within 12 months, and the strong short interest (12 million shares shorted, about 2 days average trading volume) which creates built-in demand for shares. Needham views fuboTV with 62% upside valuation relative to other streaming peers in its coverage.
Needham boosted its 2021 revenue estimate by 5% to $460 million, and also raised its 2022 revenue expectation by 3% to $750 million.
FUBO moved above its 50-day moving average on May 05, 2023 date and that indicates a change from a downward trend to an upward trend. In of 36 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
The 10-day moving average for FUBO crossed bullishly above the 50-day moving average on May 09, 2023. This indicates that the trend has shifted higher and could be considered a buy signal. In of 11 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FUBO advanced for three days, in of 205 cases, the price rose further within the following month. The odds of a continued upward trend are .
FUBO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The 10-day RSI Indicator for FUBO moved out of overbought territory on May 11, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 29 similar instances where the indicator moved out of overbought territory. In of the 29 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on May 23, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on FUBO as a result. In of 96 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for FUBO turned negative on May 24, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 57 similar instances when the indicator turned negative. In of the 57 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FUBO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. FUBO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.040) is normal, around the industry mean (2.923). P/E Ratio (0.000) is within average values for comparable stocks, (34.425). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (6.589). FUBO has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.050). P/S Ratio (0.293) is also within normal values, averaging (0.761).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FUBO’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
|MFs / NAME||Price $||Chg $||Chg %|
|Jacob Discovery Fd Instl|
|Nationwide BNY Mellon Dyn US Eq Inc R6|
|PGIM Jennison Focused Value R|
|BlackRock Tactical Opportunities Inv A|
|Cohen & Steers Real Estate Securities A|
A.I.dvisor indicates that over the last year, FUBO has been loosely correlated with IHRT. These tickers have moved in lockstep 51% of the time. This A.I.-generated data suggests there is some statistical probability that if FUBO jumps, then IHRT could also see price increases.
|IHRT - FUBO|
|SSP - FUBO|
|LSXMK - FUBO|
|LSXMA - FUBO|
|GTN - FUBO|