Yesterday, fuboTV (NYSE:FUBO) surprised investors after posting preliminary Q4 results. While shares were in the red following the release, shares are trading higher by more than 10% today. So, the initial price decline may be attributable to the market-wide decline yesterday. However, it seems that shareholders are responding positively to the results today. Therefore, let’s take a look at the latest FUBO stock price predictions.
Yesterday, fuboTv announced that Q4 revenue should be between the range of $215 million and $220 million, up from prior guidance of $205 million to $210 million. Logically, guidance for the whole year was raised as well to $622 million-$627 million. The raised full-year guidance represents an impressive 138%-140% year-0ver-year (YOY) increase in sales.
The interactive streaming platform fired from all cylinders last quarter, improving a wide range of metrics. The company reported that subscriber churn will likely decrease by 2% YOY. As a result, Q4 will mark the 13th consecutive quarter of churn improvements. Paid subscribers at year end is expected to exceed 1.1 million, up more than 100% YOY. Furthermore, advertising revenue for Q4 is expected to be $25 million, which represents an increase of over 90% YOY.
Additionally, fuboTV CEO David Gandler praised the company’s performance, adding that,
“fuboTV’s strong preliminary fourth quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television. In the fourth quarter, we continued to deliver triple digit revenue growth, alongside operating leverage, through the efficient deployment of acquisition spend and the retention of high quality customer cohorts.”
After reporting exemplary preliminary Q4 results, investors are looking forward to what the rest of the year will look like for FUBO stock. Let’s take a look at FUBO price predictions from Wall Street’s best.
FUBO Stock Price Predictions for 2022
- Needham has a $50 price target for FUBO stock. Acclaimed analyst Laura Martin cites that fuboTV has a strong history of raising guidance. Furthermore, she notes FUBO stock is trading at a cheap multiple relative to its peers. Finally, Martin adds that sports betting “remains an upside option that potentially doubles FUBO’s TAM, growth runway and valuation upside.”
- Oppenheimer has a $42 price target. Analyst Jason Helfstein is impressed by fuboTV’s subscriber growth, engagement metrics and sportsbook venture. Additionally, the analyst noted, “We believe if FUBO develops a competent OSB product, its ability to offer tier-1 sports content to bettors will be a differentiator.”
- JP Morgan has a $28 price target. Analyst Anna Lizzul is bullish on ad-supported streaming platforms and believes that it will continue to take market share from linear television. However, Lizzul notes that fuboTV has a small market share in the virtual multichannel video programming distributor (vMVPD) market. According, it should see increased competition from Alphabet’s (NASDAQ:GOOG, NASDAQ:GOOGL) YouTube TV and Hulu.
- Finally, fuboTV has an average price target of $40.63 among eight firms with coverage of the stock.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
