Why fuboTV Stock Keeps Flying Higher Today
Share prices of sports-streaming platform fuboTV (NYSE: FUBO) flew higher on Monday, continuing their recent trajectory. Today's catalyst is likely a result of continuing excitement about first-quarter earnings released on Friday. The company reported Q1 sales of $324.4 million, up 34% year over year and beating the consensus of $303.4 million. The adjusted EPS loss of $0.27 beat the consensus loss of $0.43. Most significantly, company management raised its outlook for the rest of the year. FuboTV stock was up 23% as of 12:30 p.m. ET and is now up nearly 70% from its low last week.
According to TipRanks, Needham analyst Laura Martin released a note over the weekend regarding fuboTV stock. In it, she reportedly reiterated her price target for fuboTV of $3 per share, suggesting around 67% additional upside from where it trades right now. Wedbush analyst Michael Pachter also released guidance on the stock over the weekend, reiterating fuboTV as an outperform and maintaining a $5 price target. That price target would result in a 177% jump over the next 12 to 18 months.
For what it's worth, there's plenty of chatter today that another analyst issued an even better price target of $8 per share for fuboTV stock. However, I couldn't personally find anything to substantiate the claim.
Source Fool.com
