Analyst Laura Martin of Needham maintained a Buy rating on fuboTV (FUBO – Research Report), with a price target of $4.00.
Laura Martin has given her Buy rating due to a combination of factors including the company’s strategic objectives and financial performance. In her analysis, Martin highlights fuboTV’s CEO David Gandler’s goals for 2024, which focus on enhancing user engagement and diversifying revenue streams. The company plans to be more proactive in keeping consumers engaged with a broader variety of content and aims to capitalize on its technology to develop additional revenue channels. This includes free and premium video on demand, as well as leveraging first-party data, potentially mirroring the profitable data sales model used by other industry players.
Furthermore, fuboTV’s advertising revenue displayed a 35% year-over-year increase in the third quarter of 2023, with expectations for even stronger growth in the following year. The company’s operational efficiency is also expected to improve, as there are no plans to increase the number of full-time employees in the near future, signaling potential for margin expansion. These factors together provide a promising outlook for fuboTV’s future performance, which underpins Martin’s Buy rating for the stock.
According to TipRanks, Martin is an analyst with an average return of -7.0% and a 41.60% success rate. Martin covers the Communication Services sector, focusing on stocks such as Magnite, fuboTV, and Alphabet Class A.
See the top stocks recommended by analysts >>
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
fuboTV (FUBO) Company Description:
Operating as a sports-focused live TV streaming service, fuboTV offers access to over 100 live TV channels, including many of Nielsen’s top ranked networks
Read More on FUBO:
- Unusually active option classes on open January 5th
- fuboTV (NYSE:FUBO) Soars on Major Distribution Agreement with Nexstar
- Zillow upgraded, Airbnb downgraded: Wall Street’s top analyst calls
- FuboTV initiated with bullish view at Cantor Fitzgerald, here’s why
- FuboTV initiated with bullish view at Cantor Fitzgerald
