Fubo Stock Forecast: FuboTV Closes 5.4% lower, Will it Bounce Back?
Fubo closed 5.40% lower at $19.62 in the last trading session
Forward PE (1 Year)
- Fubo Stock Forecast: Momentum Summary
- FuboTv Stock Forecast: Performance Chart
- FuboTv Stock Forecast: Latest News and Tweets
- Fubo Stock Forecast: FuboTv Social Media Sentiuments
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- Fubo Stock Forecast: Background
- FuboTv Stock Forecast: Monster Q3 Quarter
- FuboTv Stock Forecast: Future Outlook for FuboTV
Fubo Stock Forecast: Momentum Summary
Social Media Buzz Momentum
FuboTv Stock Forecast: Performance Chart
FuboTv Stock Forecast: Technical Analysis
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FuboTv Stock Forecast: Latest News and Tweets
$FUBO – Intraday Chart. Looking interesting.
Fubo Stock Forecast: FuboTv Social Media Sentiuments
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Fubo Stock Forecast: Latest Videos
Omicron Is Here To Stay | Stock Market Crash Ahead? | Stock Market Closing Live Stream
Fubo Stock Forecast: Background
FuboTv Inc is an American streaming television service having customer base in the United States, Canada, and Spain and primarily focuses on live sports channels. It was launched in 2015 as a soccer streaming service and then in 2017 it changed to all sports services and then to a virtual multichannel video programming distributor model.
In June 2020, FuboTV announced much-awaited deal with the Disney media network to bring ESPN Inc and Walt Disney Television to their sports-focused streaming services. On October 7, 2020, FuboTV completed its initial public offering on NYSE raising about $183 million in the proceeds. FuboTV began trading on October 8, 2020 and shot up 10 percent on an opening day.
FuboTv Stock Forecast: Monster Q3 Quarter
FuboTv announced 3rd quarter ending on 30th September on 9th November after market hours. The results were impressive and they did beat market expectations
- FuboTv reported a revenue of $156.7 million in the third fiscal quarter and that is 156% higher than same quarter in the previous year. Last year, people were stuck at home and searching for entertainment, but growing revenue when economy is reopening and people had more to do outside their home is impressive.
- Subscription revenue rose by more than 150% to $138.1 million, while the subscriber base rose to 108% YoY and count stands at 944,605 at end of Q3. The company official also said that by end of October they have crossed 1 million subscriber base.
- Management expects momentum to continue and has raised their outlook for the next quarter with revised revenue forecast as $612 million to $617 million, that would be YoY increase of 135 percent compared to previous forecast of 116 %.
- FuboTv also announced acquisition of France based Molotov SAS, a leading live TV streaming services. The purchase is expected to cost $190 million.
FuboTv Crashes More Than 20 Percent Post Earnings.
- Despite the explosive revenue growth figures, FuboTv was down by more than 20 percent and it is hard to believe what exactly disappointed investors. Some believe that it is another quarter with bottom line loss and it reported a loss of $105.9 million.
- Also, company’s cash from operations was negative $143 million. This is a troubling sign for company as it ended Q3 with $393 million cash on its balance sheet and it cannot sustain these losses without raising additional capital by selling stock or borrowing money.
- Earnings per share came at $-0.74 while street expected $-0.61. The selloff in FuboTv could be investor’s signal to management to get more sustainable growth trajectory.
FuboTv Stock Forecast: Future Outlook for FuboTV
- On November 3, FuboTv launched Fubo Sportsbook, an online betting service, in the US starting with Iowa. The sportsbook service is integrated with live TV services to expand the horizon of company.
- Last year, the trading in Fubo was a risky proposition. It moved up and down like a roller coaster and that was not cautious for ideal investors. But things started to cool off in last 2 months as it is no longer target of reddit traders as it was used to be in past year.
- It is also possible that short squeeze mob may target the stock again as they did in January this year and Fubo stock may revisit 52 weeks high of $62 depending on company’s ability to generate revenue and cut its losses.
- FuboTv is expected to benefit from number of partnerships like multiyear partnership with Fubo Sportsbook, to become official betting partner of club. Fubo Sportsbook is set to debut during 2021-22 NFL season. This is first authorized mobile sports betting lounge in MetLife Stadium.
- With its partnership, FuboTv growth trajectory is expected to gain momentum in 2022. By 2025, analysts believe that FuboTv is expected to touch 2 million subscribers and revenues are expected to increase at compound annual growth rate of nearly 60 percent which is well above market expectations.
- Stock is expected to touch new heights, but it is not going to happen overnight. Partnerships is expected to deliver in couple of years, revenue is expected to grow at brisk pace and that will turn the company’s balance sheet, a profit generating one which will fuel the upside of stock price.
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