5 Reasons to Own fuboTV (FUBO) - Needham & Company
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Needham & Company analyst Laura Martin reiterated a Buy rating and $60.00 price target on fuboTV (NYSE: FUBO) citing 5 reasons to own the stock:
1) Strong track record of raising guidance. Since coming public, FUBO has a track record of over-delivering their own guidance, resulting in increases to subscriber and rev estimates after every quarter.
2) Core vMPVD KPIs are all trending in the right direction. For example, subs, revs, ARPU and gross margins are all rising, while churn and CAC are falling. LTV is now above $600.
3) Wagering remains an upside option that potentially doubles FUBO's TAM, growth runway and valuation upside.
4) Valuation today is inexpensive at 4.7x EV/2022E revs for FUBO vs an average of 6.4x for the 6 other streaming companies
5) Advertising revenues are 100% CTV with very high margins
Shares of fuboTV closed at $25.75 yesterday.
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