fuboTV (FUBO) Talks Sports Wagering at Needham Tech Conference
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Needham & Company analyst Laura Martin reiterated a Buy rating and $60.00 price target on fuboTV (NYSE: FUBO) after interviewing the CEO, David Gandler, as part of the Annual Needham Tech Conference. In addition to discussing share gains (590,000 subs at 3/31/21, up 105% y/y) and strong 1Q21 advertising revenue (206% y/y to $12.6mm, ARPU of $7.11), the conversation dove into wagering.
The analyst stated "FUBO believes its strategic position in wagering is better than JVs like DraftKings and DISH because it can track its first party data from both its vMVPD video platform and its owned wagering apps to target specific bets at its audience based on what they have bet on in the past. Higher content immersion should lower churn and SAC, and add to average revenue per FUBO subscriber and lifetime value."
Shares of fuboTV closed at $20.40 yesterday.
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