BTIG analyst Clark Lampen has maintained their neutral stance on FUBO stock, giving a Hold rating on March 1.
Clark Lampen has given his Hold rating due to a combination of factors surrounding fuboTV’s current business outlook and industry challenges. The fourth quarter results of 2023 surpassed expectations with robust subscriber growth and revenue, suggesting solid operational performance. However, looking ahead into 2024, Lampen notes a cautious stance from the company’s management, factoring in potential volatility and a conservative subscriber outlook. This prudence, while strategically sensible, reflects the possibility of an industry-wide shift and higher churn rates amid planned price increases, which could impact the company’s subscriber base negatively.
Additionally, Lampen points out that while fuboTV’s litigation against major industry players could be a significant factor for its future, the uncertainty surrounding the outcome makes it difficult to weigh in on the company’s valuation. Despite the positive indicators such as a strong start to the year in advertising demand and potential for EBITDA margin improvement, the level of unpredictability in the industry, coupled with the ongoing legal battles, has led to a Neutral stance. Lampen’s perspective is further shaped by the adjustments in the top-line estimates for 2024, where he anticipates softer revenue growth due to these factors.
In another report released on March 1, Roth MKM also maintained a Hold rating on the stock with a $2.00 price target.
See today’s best-performing stocks on TipRanks >>
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:
- Fubotv Inc. Reports Earnings: Did it Beat Estimate Forecasts?
- Fubo CEO slams Disney-Fox-Warner Bros. sports bundle on call, Deadline says
- Unusually active option classes on open March 1st
- FuboTV sees FY24 revenue $1.82B-$1.88B, consensus $1.62B
- FuboTV sees Q1 revenue $371.6M-$383.6M, consensus $393.61M
