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FuboTV Inc. (FUBO) Gains As Market Dips: What You Should Know

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Zacks Equity Research
·2 min read
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fuboTV Inc. (FUBO) closed at $46.75 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily loss of 0.11%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 0.14%.

Heading into today, shares of the company had gained 78.62% over the past month, outpacing the Consumer Discretionary sector's gain of 2.72% and the S&P 500's gain of 2.46% in that time.

FUBO will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2021. The company is expected to report EPS of -$0.53, up 22.06% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $97.20 million, up 6330.45% from the year-ago period.

Investors might also notice recent changes to analyst estimates for FUBO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 27.48% higher. FUBO is currently sporting a Zacks Rank of #3 (Hold).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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