what happened
After a slide that starts on December 22, fuboTV (NYSE: FUBO) shareholders finally got a breather today when the company announced a preliminary fourth-quarter earnings this morning. At the same time, the stock also received another bullish analyst letter from Needham.
As a result, the suddenly active power supply increased by 22.4% from 12:18 EST.
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Approximately
Fubo said it now expects fourth-quarter revenue of $ 94 million to $ 98 million, an increase of 77% -84% compared to the previous quarter, which is well above the previous forecast of $ 80 million to $ 85 million. Paid subscribers also rose 72% to 545,000, exceeding the lead at 500,000-510,000 subscribers.
CEO David Gandler said: “The strong preliminary results of fuboTV in the fourth quarter of 2020 surpass those that would already be a record year for the company, and show continued consumer excitement for the company’s live TV offering.”
Separately, Needham analyst Laura Martin reiterated her buy rating and $ 60 price target on the stock, saying the recent sell-off, which scrapped more than 60% of its value in just two weeks, was due to the expiration of ‘ an insider lock-up period on December 30, which released 88 million shares. Martin is of the opinion that the stock has now reached the bottom and that the foundation should resume the price action.
Now what
Fubo has emerged as a battlefield stock over the past few weeks as analysts have emerged on both sides of the stock. Some call it an epic deficit, and others see it as a prolonged disruption. The company focuses on sports streaming and aims to include sports betting in its platform. Online doubles stocks made huge profits in 2020, and exposure to the sector helped the Fubo shares to $ 62.29 last month.
Streaming is a very competitive market, but Fubo’s investors include old-fashioned heavyweights such as Disney, ViacomCBS, AMC Networks, en Comcast-heaven. Given the high expectations, disruptive potential and the heavy short percentage, the stock is likely to remain volatile in the foreseeable future.