fuboTV (FUBO) Trades at a Deeper Discount Now Than at the IPO, Needham Reiterates Buy

March 3, 2021 6:34 AM EST
Get Alerts FUBO Hot Sheet
Price: $21.25 +0.05%

Rating Summary:
    7 Buy, 1 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 6 | New: 26
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Needham & Company analyst Laura Martin reiterated a Buy rating and $60.00 price target on fuboTV (NYSE: FUBO) after the company reported 4Q20 revs of $105.08mm (up 98% y/y and 9% above our estimate), adding 92,880 subs at ARPU up 17% y/y.

The analyst stated "In the 5 months since IPO, FUBO has over-delivered nearly every streaming metric, plus it has pulled forward by 1 year its upside optionality from wagering. In Oct 2020, the timing for wagering was "about 2 years away." After 2 acquisitions, FUBO expects to have a mobile free-to-play wagering app in market by 4Q21. Today, at 6.9x our forward year (2022E) revenue estimate, we believe FUBO trades a deeper discount to its fair value than at its IPO date, given its 2 industries."

For an analyst ratings summary and ratings history on fuboTV click here. For more ratings news on fuboTV click here.

Shares of fuboTV closed at $39.54 yesterday.

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