On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 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(FUBO) Is a Great 'Buy the Bottom' Stock Now, Zacks Industry Outlook Highlights Warner Bros. Making the world smarter, happier, and richer. (SecondSide/stock.adobe.com). Shares of FuboTV ( FUBO) are plunging in todays session, with FUBO stock down more than 10%. This move appears to reflect worsening sentiment around speculative growth stocks. Additionally, poor tech earnings have left a sour taste in investors mouths, with many hitting the ask today. Ahead of Fubos May 5 earnings call it seems investors are preparing for near universal subscriber drops. In the most recent nine months ended Sept. 30, the company raised $389.5 million in cash by selling convertible notes. Analysts were targeting 927,000 subscribers. In a report Tuesday, LightShed Partners slammed FuboTV stock. How to watch King Charles III's coronation without going to The company had slightly more than 300,000 subscribers in 2019, but it was up to 455,000 paid subscribers as of the quarter ended Sept. 30, representing a 58% gain over the prior-year period. Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. After the quarter ended, FuboTV crossed the milestone of 1 million subscribers. But its shares pulled back from that resistance level. "The one million subscriber milestone represents an exciting inflection point in our business, with tremendous implications for revenue growth and profitability, particularly given the continued strength of our advertising business," FuboTV Executive Chairman Edgar Bronfman Jr. said in a news release. The end game for FuboTV executives likely is to "sell the company before everyone realizes how bad the underlying financial story actually is," LightShed analysts said. As of 1 p.m. Eastern, FUBO stock is down more than 10% as investors price in poor tech earnings and continued Fedspeak. Interestingly, theres little news to speak of when it comes to FuboTV today. 1125 N. Charles St, Baltimore, MD 21201. This morning, Netflix reported its financial results for its fiscal Q1 2022. Shreys articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more. But the sharp share price increase has also driven the valuation to lofty levels. WebFUBO fuboTV Inc 62,776 Watch Buy $1.14 $0.05 (4.59%) Today $1.15 0.01 (0.88%) After Hours Market Cap $239.05M Volume (M) 9.97M 52-Wk High $8.14 52-Wk Low $0.96 analyst said the $40 stock is only worth $8. Asian shares are trading mostly lower as worries about the health of global economies grew after a tumble on Wall Street, despite some better-than-expected On Nov. 4, FuboTV stock flirted with a buy point of 35.19 out of an 18-week consolidation period, according to IBD MarketSmith charts. Identify stocks that meet your criteria using seven unique stock screeners. On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 in the year-earlier period. JPMorgan Rescues First Republic. The Motley Fool owns shares of and recommends Walt Disney and fuboTV, Inc. Investors have been holding their breath as analysts forecasted a second potentially detrimental quarter for one of the original streaming services. The Motley Fool has a disclosure policy. During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. Analysts expected FuboTV to add 137,000 new subscribers in the third quarter for a total of 817,000 subscribers, according to FactSet. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Privacy Policy & Terms of Use. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. That's up from 44.2 million at the same time last year. Why Is Everyone Talking About fuboTV Stock? Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. As of Sept. 30, it had 142.5 million shares outstanding. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Unfortunately, Netflix managed to fall behind even bearish forecasts for its earnings. Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Making the world smarter, happier, and richer. Authors may own the stocks they discuss. The costs are adding up, and in the nine months ended Sept. 30, fuboTV lost $143 million in cash from operations. Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press. Wall Street had predicted sales of $179.6 million in the fourth quarter, FactSet said. FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. 6, 2023 at 9:55 a.m. Note that with more shares outstanding, a company's profits are split more broadly. Even after the 35% drop, the stock has a market capitalization of almost $3 billion, giving it a current price-to-sales ratio of more than 12. Is United Airlines Playing a Game of Limbo with Its Guidance? Warner Bros. Make more money in stocks with 2 months of access to IBD Digital for only $20! Nvidia Touts Metaverse Avatars, Simulation Technologies, Roblox Stock Rockets After Game Firm Reports Strong Third Quarter, Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists, Find Winning Stocks With MarketSmith Pattern Recognition & Custom Screens, See Stocks On The List Of Leaders Near A Buy Point. Fubo is slipping as part of Netflix-induced streaming slump. FuboTV (FUBO) shares tumbled Wednesday even though the sports-focused streaming video service smashed analyst estimates for new subscribers in the third quarter. (844) 978-6257. With fuboTV's losses continuing, investors are perhaps foreseeing that the company might need to sell yet more shares to sustain this level of growth. Shares of the pharmaceutical giant AbbVie ( ABBV 1.51%) fell by as much as 9% in early morning trading Thursday. But losses continue too, meaning the company may need to raise more money. NFLX stock is down nearly 40% this morning as investors consider the implications of a reversal of streaming service popularity. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. On the stock market today, FuboTV stock dropped 23.1% to close at 25.47. Ownership data provided by Refinitiv and Estimates data provided by FactSet. However, where investors are raising concern is the cost of that growth. 1 Stunning Growth Stock to Buy Before It Soars 165%, According to Wall Street, 2 Beaten-Down Growth Stocks to Avoid Like the Plague in April. Instead, the issues arise from fuboTV's profit margins -- or lack thereof. With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. 5 Hypergrowth Stocks With 10X Potential in 2023, Even if Block Beats on Earnings, Stay Away From SQ Stock, Louis Navellier and the InvestorPlace Research Staff, Rare Stock Indicators Show the Market Is About to Skyrocket, Ideanomics (IDEX) Stock Surges 90% Ahead of Possible Delisting. Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. Discovery (NASDAQ:WBD), Roku (NASDAQ:ROKU) and Disney (NYSE:DIS) are all well in the red today. Under the Inflation Reduction Act, the Centers for Medicare and Medicaid Services will begin negotiating the prices of the most expensive medicines the agency buys. To sustain those losses, fuboTV is tapping capital markets and raising money. View which stocks are hot on social media with MarketBeat's trending stocks report. The business itself is showing strong growth. Get fuboTV News Delivered to You Automatically. Can Earnings Recharge Electric Vehicle Stocks? The bulk of those costs was subscriber-related expenses (at 91.5% of revenue). Is the 149% Dividend for ZIM Integrated Shipping in Jeopardy? According to analysts' consensus price target of $4.85, fuboTV has a forecasted upside of 325.4% from its current price of $1.14. fuboTV has only been the subject of 3 research reports in the past 90 days. fuboTV, Inc. operates as a sports-first, live TV streaming company. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research. Want to learn more about investing? ET on Zacks.com fuboTV Inc. (FUBO) Loses -33.93% in 4 Weeks, With each new subscriber, fuboTV needs to pay media companies like Disney. Learn how to trade stocks like a pro with just 3 email lessons! Its another down day for the stock market, with most major indices losing around 1% as of early afternoon trading. Notably, the stock was actually up in pre-market trading as it beat estimates in its fourth-quarter earnings report, but the other updates spoiled those gains. As of 1:32 p.m. ET, the stock was down 11.9%. fuboTV got a lift in the fourth quarter from the FIFA World Cup as revenue jumped 38% to $319.3 million, which beat estimates at $285.6 million. All rights reserved. FuboTV expects to end the year with 1.06 million to 1.07 million subscribers. In other news, FuboTV announced a deal to buy Molotov, France's leading live-TV streaming platform, for about $190 million. Duolingo Speaking Volumes: Forms Bullish Chart Ahead of Earnings, fuboTV (FUBO) Set to Announce Earnings on Friday, Fubo Announces 2023 Season Partnership With Boston Red Sox, Orioles play the Tigers leading series 2-1, How to Watch the Baltimore Orioles vs. Detroit Tigers - MLB (4/30/23) | Channel, Stream, Preview, How to watch Seattle Sea Dragons vs. D.C. Defenders: XFL Division Championships time, TV, stream, fuboTV Inc. (NYSE:FUBO) Receives $4.85 Average PT from Analysts, Great news for fuboTV Inc. (NYSE:FUBO): Insiders acquired stock in large numbers last year, Farmer Wants a Wife season 1 episode 7: How to watch for free (4/19/23), Fubo Announces Inducement Grants Under NYSE Listing Rule 303A.08, Rayo Vallecano vs Barcelona: times, how to watch on TV, stream online | LaLiga, Manchester City vs Arsenal: times, how to watch on TV, stream online | Premier League, Napoli vs. AC Milan odds, picks and predictions, Heres how the top runners from Mass. Our daily ratings and market update email newsletter. 2023 InvestorPlace Media, LLC. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 2000-2023 Investor's Business Daily, LLC. That's what makes a market, after all. The stock has fallen more than 25% since the earnings announcement. LightShed analysts also said that FuboTV is overpaying for sports rights. As you might imagine, investors havent been kind to Netflix stock today. Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20! The Motley Fool has a disclosure policy. What happened Shares of fuboTV ( FUBO -3.97%) dropped more than 10% Monday, but Indeed, However, one of todays biggest movers to the Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. contact@marketbeat.com Reasonably so, as Netflix has consistently enjoyed user gains of 25 million subscribers per year. All rights reserved. Shares of fuboTV ( FUBO 3.57%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Indeed, FUBO stock is down more than 7% this morning as investors digest a worse-than-expected earnings call from Netflix. It's always beneficial to see both sides of an argument about an investment. On the positive side, fuboTV saw revenue jump 156% to $157 million in the latest quarter over the year-ago period. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. The firm issuing the short call is LightShed Partners, led by Richard Greenfield. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. Netflix, was, perhaps as expected, the worse casualty of its earnings call. Get daily stock ideas from top-performing Wall Street analysts. To sustain those losses, fuboTV is tapping capital markets and raising money. For the current quarter, FuboTV forecast revenue of $207.5 million, up 97% year over year. Image source: Getty Images. Copyright, Trademark and Patent Information. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. Could Government Drug-Price Negotiations Sound The Death Knell For Biotech Stocks? After a 40% Drop, Analysts Remain Bullish on Impinj, Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. Why Is Everyone Talking About fuboTV Stock? As a result, fuboTV had $398.5 million in cash at the end of its third quarter. For NYSE:FUBO fuboTV - FUBO News Today $1.27 +0.10 (+8.55%) (As of 04/11/2023 03:28 PM ET) Additionally, the company projects it will drop an additional 2 million customers in Q2 of this year. Yet again, thats set to come in below analysts revenue estimate of $88.29 million for the period. The live streaming platform FuboTV (NYSE:FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ:NFLX) recent earnings report. The sports streaming substitute for cable TV is gaining traction with consumers, but that's not the problem for investors. fuboTV (FUBO 9.65%) reported third-quarter earnings on Nov. 9 that disappointed investors -- and the stock has since slumped over 25%. quotes delayed at least 15 minutes, all others at least 20 minutes. 0.58Average Consumer Discretionary News Sentiment. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Investors who already purchased fubo stock, or those who are looking into it after the recent drop, should read the short report. GDC Stock Alert: Why Is GD Culture Group Up 700% Today? 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(NYSE:FUBO) Q4 2022 Earnings Call Transcript, Steer Clear of fuboTV Until This Starts Happening, Indie Green-Themed Network EarthXTV Lands Carriage on FuboTV's Base Tier, fuboTV Adds Environmental Network EarthxTV to Base Subscription Package, Barrington Reaffirms Their Hold Rating on fuboTV (FUBO), Nexstar Exec on Why Broadcasters Balked at CBS Terms for Pact With Sports Streamer FuboTV, If You Have Not Sold fuboTV by Now, You Might as Well Hold, fuboTV Inc.'s (NYSE:FUBO) 17% loss last week hit both individual investors who own 43% as well as institutions, fuboTV (FUBO) Q4 2022 Earnings Call Transcript. Subscriber-related expenses were 100% of revenue in Q3 last year and 122% two years ago. Real-time analyst ratings, insider transactions, earnings data, and more. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Sign up to receive the latest news and ratings for FUBO and its competitors with MarketBeat's FREE daily newsletter. Realtime quote and/or trade prices are not sourced from all markets. Upgrade to MarketBeat All Access to add more stocks to your watchlist. So despite fuboTV's impressive revenue growth, the market seems to believe that a positive and growing bottom line remains key. The live streaming platform FuboTV (NYSE: FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ: NFLX) recent earnings report. This means that fuboTV's share count is rising. *Average returns of all recommendations since inception. Netflixs massive earnings loss has had iterative effects on the market. Learn More. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. You have already added five stocks to your watchlist. The excellent news for fuboTV is that these costs are getting smaller as a percent of revenue as the company grows. Cost basis and return based on previous market day close. To make the world smarter, happier, and richer. Cost basis and return based on previous market day close. *Real-time prices by Nasdaq Last Sale. After spiking more than 400%, the stock has been tumbling the last several trading sessions. For instance, a hypothetical $100 million in net profit would come to $2.26 in earnings per share at 44.2 million shares outstanding. LightShed says fuboTV stock is the "most compelling short" it has discovered, and that the previous run-up in the share price was "egregious," as reported by Barron's. The same net profit would come to just $0.70 per share with 142.5 million shares outstanding. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. In the most recent nine months For context, despite concerns of waning demand, Wall Street still expected Netflix to experience a net gain of around 2.5 million customers. Amazon Leads 5 Stocks Near Buy Points Post-Earnings, Fubotv Earns Relative Strength Rating Upgrade, Fubotv Hits 80-Plus Relative Strength Rating Benchmark, Stock Upgrades: Fubotv Shows Rising Relative Strength, Fubotv Shows Improved Relative Strength; Still Shy Of Benchmark, Sports-Centric Live TV Streamer FuboTV Scores Big Second-Quarter Beat, Dow Jones Futures: $1.2 Trillion Infrastructure Bill Lifts Dow, S&P 500 To Highs As Micron Hits Growth; IPOs Upstart, FuboTV Are Big Earnings Movers. Each headline receives a score ranging from 2 (good news) to -2 (bad news). Fubo starts at $75 per month, though FuboTV investors have yet to realize that "the emperor has no clothes," the report said. *Average returns of all recommendations since inception. Parkev Tatevosian owns shares of Walt Disney. What happened. Can Fubo TV Survive Its Most Recent Slump? That's based on the midpoint of its outlook. Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. Howard Smith has no position in any of the stocks mentioned. The drop gained momentum late last week after an analyst said the $40 stock is only worth $8. In fact, streaming services are down across the board today as investors express fear over a potential streaming service slump. Fubo is best known for its live TV offerings, including sports, news and entertainment. It's losing money at a rapid rate and keeps raising capital that is diluting shareholders.
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