FuboTV Fubo Stock Forecast 2023

FuboTV Fubo Stock Forecast 2023: The average of 12 months of FuboTV Stock Prediction is reduced to $3.31.

Fubo Stock Forecast: Latest Price

FuboTV Performance

  • Last 1 Month: -31.3%
  • Last 6 Months: -47.4%
  • 1 Y: -78.8%

FuboTV Stock 12 Months Target

FUBO Target Price, 12 Months$3.31
Stephens & Co.$3
Evercore ISI Group$3
Roth Capital$4.25
  1. Stephens & Co.: The analyst at Stephens & Co. have significantly reduced their price target from $5 to $3 which is still 52.45% higher than the current price however, they have maintained their rating of hold.
  2. Evercore ISI Group: The analyst over at Evercore have downgraded their rating in the recent release, reducing their price target from $6 to $3. Even though this represents an upside change of 53.45%, it still points towards a decrease in potential for the company.
  3. CNN: The 5 analysts over at CNN offering 12-month price forecasts for FuboTV Inc have a median target of 3.00, with a high estimate of 5.00 and a low estimate of 2.30. The median estimate represents a +53.45% increase from the last price of 1.96. They have given the rating as a hold.
  4. NASDAQ: Based on analysts offering 12-month price targets for FUBO in the last 3 months. The average price target is $3.33 with a high estimate of $5 and a low estimate of $2.3.

Fubo Stock Forecast: Quarterly Results

FuboTV Inc., on 27th February, announced its quarterly earnings results for the fourth quarter and full year ended December 31, 2022, surpassing previously stated projections while delivering yearly revenue and subscriber records across its worldwide operations. Remarkably, the business’s yearly global sales now exceed $1 billion for the first time.       

Fubo generated $984 million in total revenue (up 55% year over year), which included $100 million in advertising income, and attracted 1.445 million members (up 29% year over year) in North America (NA). Fubo’s revenue for the fourth quarter in North America increased by 36% year over year to $312.1 million, while ad revenue increased by 30% to $33.6 million.

During the fourth quarter, the firm generated $7.2 million in revenue from the Rest of the World (ROW) and 420,000 total paying members, an increase of 117% year over year. The outcomes of Molotov, the French live TV streaming business that Fubo purchased in December 2021, are included in ROW.

Fubo had $343.2 million in cash, cash equivalents, and restricted cash at the end of the fourth quarter. The business continues to have faith in its existing cash situation. Also, the firm increased the fourth quarter Adjusted EBITDA (AEBITDA) margin for continuing operations by 814 basis points (bps) year over year and the net loss margin by 1,127 basis points (bps) year over year1. Also, since becoming a publicly listed business in October 2020, Fubo recorded its best quarterly cash consumption.

Last 4 Quarterly Result

(USD)Dec 2022Sep 2022Jun 2022Mar 2022
Net income-151.98M-152.65M-116.12M-140.72M
Net profit margin-47.60%-67.90%-52.33%-58.15%
Operating income-93.9M-114.88M-101.84M-135.24M
Net change in cash-71.46M-177.22M76.63M
Cost of revenue316.7M231.07M236.06M265.96M

Quarterly Summary

Dec 2022Beat 31.86%Beat 11.57%
Sep 2022Beat 16.39%Beat 5.40%
Jun 2022Beat 21.15%Miss 1.99%
Mar 2022Miss 69.17%Miss 0.26%

Fubo Stock Forecast Today

Technical Analysis

FuboTV stock is at its lowest now it is trading at a similar level that it was trading in 2017. FuboTV stock is now slightly above its all-time low price which the stock hit back in March 2017. The buyers have failed to break the downtrend of the Fubo Stock which began on February 28th. On the last trading day, FUBO closed around 10% lower.

Performance of FuboTV Stock on the Last Trading Day

  • Open Price: $1.21
  • Close Price: $1.10
  • Profit/Loss: 9.09%
  • Market Cap: $230.66 M

FuboTV stock recently reported its Quarterly earnings for the Q4 of 2022. Despite positive EPS and revenue, the market was not pleased. The FuboTV stock has been on a downtrend and now it is on the verge of falling below $1.

The stock has been in search of stable support and for now, $1 is the psychological support for Fubo stock. Falling below it will likely give the bears an opportunity to drag the FuboTV stock to below its all-time low price which was below $0.50. Fubo is currently at its lowest level in the last 5 years.

image 503

The Relative Strength Index adds to the bearish sentiment of the FuboTV stock. Technically FuboTV stock is oversold. The buyers are in control and have completely wiped away the bullish sentiment.

For the next trading day, the stock faces resistance at around $1.71.

image 502

The Stochastic RSI is the confirmation of the bearish sentiment. The Stoch RSI has fallen below the 14-day SMA once again. On the MACD chart, the MACD line and the signal line are both within the bearish axis and are on the downtrend. The MACD line is below the signal line. It is a sell signal.

Overall FUBO stock is bearish and the recommendation is a sell.

Overall OutlookNeutral
1. Market's WisdomPartially Positive
1a. Market DataPositive
1b. Technical RecommendationSell
2. Crowd's WisdomPartially Negative
2a. Social Media BuzzLower
2b. Social Media SentimentNeutral

FuboTV Fubo Stock Forecast: Recent Developments

FuboTV Inc. announced that its CEO and Co-Founder David Gandler, along with its CFO John Janedis and Investor Relations Director Alison Sternberg, will attend the Deutsche Bank Annual Media, Internet, and Telecom Conference in Palm Beach, FL on February 28, 2023. This is part of the company’s commitment to sports-first live TV streaming.

The Fubo team will conduct small group meetings during the conference in addition to one-on-one consultations.

The Compensation Committee of Fubo granted four newly hired employees restricted stock units on February 19, 2023, aggregating 58,472 shares of Fubo common stock. The awards will vest over a four-year period given that there will be continuous employment as a Fubo employee. In accordance with New York Stock Exchange rules, the awards were given as an employment inducement incentive.

Fubo Stock Forecast: Why is Fubo Stock Dropping?

  • Cash flows -Its total market capitalization is $650.39m and  Its enterprise value to EBITDA is -1.93%, which means that the company is if not then soon going to face liquidity issues to the extent of hindering its working capabilities.  Also, its Earnings per share is -0.82.
  • Closing of 2 business segments -It announced on October 18th that it will wrap up its sportsbook segment. In simpler words, one may no longer be able to place bets on sports through the company. It also closed down the Fubo gaming business.  David Gangler says ‘This was not an easy decision, and it was made after much careful deliberation. Ultimately, we felt the decision was prudent in support of our profitability goals, allowing us to focus all of our resources on our core streaming business.’The company had to write down a loss of $35.5 m for the closure of the above segments. The operating cash outflow for the wagering business segment was $-8.6 m.
  • Annual Revenue history – The revenue of the company has run up speedily. From the year 2019 sales were only about $4 million, to 2020 – $217m, and in 2021 a whopping jump of $638m. Despite stellar performance in pushing up its sales, the company is yet to make profits.

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Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Index or Individual Coins. Please consult a registered investment advisor to guide you on your financial decisions. 

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