Needham Issues a Buy Rating on fuboTV (FUBO)

Needham analyst Laura Martin assigned a Buy rating to fuboTV (FUBOResearch Report) today and set a price target of $60.00. The company’s shares closed last Tuesday at $36.48.

According to TipRanks.com, Martin is a top 100 analyst with an average return of 32.7% and a 68.8% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and Walt Disney.

Currently, the analyst consensus on fuboTV is a Moderate Buy with an average price target of $35.75, a 14.9% upside from current levels. In a report issued on January 5, Wedbush also maintained a Buy rating on the stock with a $40.00 price target.

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Based on fuboTV’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $61.2 million and GAAP net loss of $274 million. In comparison, last year the company earned revenue of $5.83 million and had a GAAP net loss of $6.78 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FUBO in relation to earlier this year.

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FaceBank Group, Inc. engages in the development of hyper-realistic digital humans – computer generated assets which can be distributed across the full spectrum of traditional media and emerging display technologies. This includes live entertainment, virtual reality, augmented reality, mobile, interactive, and artificial intelligence applications. The company was founded by Alexander C. Bafer and Christopher Leone on February 20, 2009 and is headquartered in New York, NY.