On Jan. 12, fuboTV stock rose by 34.2 percent, while the S&P 500 rose by 0.04 percent. The stock was up $9.29 from its previous closing price of $27.19 on a volume of 76,664,124 shares. In the last three months, the S&P 500 has risen by 8.2 percent, while fuboTV stock has gained 291.4 percent. Is fuboTV or FUBO stock a buy or sell at this price?
On Jan. 12, fuboTV stock surged significantly after the company announced a new deal in the sports betting space. The company plans to acquire Vigtory and expects to launch a sportsbook later this year.
fuboTV enters sports betting space
On Jan. 12, fuboTV announced that it's acquiring a sports betting and interactive gambling company Vigtory. The terms of the deal weren't revealed. The deal will likely close in the first quarter of 2021. fuboTV plans to offer a fully integrated sports betting experience for its subscribers to generate more sales and keep viewers engaged.
fuboTV on Stocktwits
fuboTV stock has become a major talking point on social media platforms. An investor named Mike_RFL on Stocktwits said that fuboTV stock would trade at higher volumes on Jan. 13 because of investors' renewed confidence. Another investor by the name Elmo5469 highlighted that there were nearly 80 million trades in fuboTV stock on Jan. 12. The investor said that the short interest increased by 22 percent and is sitting on 60 percent now. One-third or so of all the trades on Jan. 12 were short trades.
fuboTV doesn’t pay dividends
Currently, fuboTV doesn’t pay dividends.
On Jan. 12, fuboTV stock rose by 34.2 percent and closed at $36.48. At that closing price, the market capitalization was $2.5 billion. fuboTV stock trades at an EV-to-sales multiple of 21.77x.
fuboTV’s stock forecast
fuboTV stock has risen by 34.3 percent in the last five days and by 22.8 percent in the last month. The stock is trading 41.4 percent below its 52-week high of $62.29 and 629.6 percent above its 52-week low of $5.
According to estimates compiled by CNN, analysts' median target price is $40 for fuboTV, which is 9.6 percent above its current stock price. All of the seven analysts tracking fuboTV stock recommend a buy. The highest target price of $60 is 64.3 percent above the stock's current price, while the lowest target price of $28 is 23.3 percent above the stock's current price.
Is fuboTV stock a buy?
fuboTV stock is a buy based on the strong growth outlook. The company plans to integrate Vigtory into its streaming TV platform. Vigtory will be open to anyone who doesn't subscribe to fuboTV. Market experts think that the global online sports betting market will likely reach $155 billion by 2024, according to a report from Zion Market Research. The market was valued at about $104.3 billion in 2017. Sports betting has been growing rapidly since online sports betting became legal.
In the third quarter of 2020, fuboTV had 455,000 paid customers — a 58 percent rise year-over-year. The company reported EPS of -$1.65 on sales of $61.2 million.