FuboTV Stock Pops on Upbeat Revenue, Forecast

The stock had been careening lower on the charts

Deputy Editor

May 12, 2021 at 10:45 AM

The shares of FuboTV (NYSE:FUBO) are soaring today, up 17.4% to trade at $20.73 at last check. The company announced wider-than-expected first-quarter losses of 59 cents per share after the close yesterday. However, it reported a revenue beat, and raised its full-year forecast. The security is also brushing off a price-target cut from Oppenheimer to $32 from $35.

FUBO has been careening lower since its Dec. 22, all-time high of $62.29. Shares have since pulled back all the way to the $14 level, with the 40-day moving average keeping a tight lid on the shares over the past several weeks. In the last six months, though, FUBO has added 23.6%.

Analysts are overwhelmingly optimistic on FuboTV stock. Of the eight in coverage, seven carry a "buy" or better rating, while only one says "hold." Plus, the stock's 12-month consensus price target of $41.50 is a whopping 110% premium to current levels.

FUBO options are taking off post-earnings, with overall volume running at five times what's typically seen at this point. So far, 99,000 calls and 52,000 puts have crossed the tape, with the weekly 5/14 21-strike call, where new positions are being opened, seeing the most activity.

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