“The #1 Tech Opportunity of the Decade”

On February 8th, Luke Lango is making his biggest call of 2023. He’s recommending technology (that you’ve likely never heard of) that could help 122 million people… And mint up to $3 trillion in wealth.

Wed, February 8 at 8:00PM ET
 
 
 
 

fuboTV Stock Is Up Today. Is It a Buy?

Shares of sports-first streaming platform fuboTV (NYSE:FUBO) gained nearly 13% on Monday, after dropping its Starter Plan for all users. FUBO stock has been hit hard in recent months, down 52% year to date and 75% since early November.

A close-up shot of a hand holding a TV remote with a blurred screen in the background.
Source: Shutterstock

Over the weekend, the company notified its users that it will no longer offer its low-end plan anymore. Starter Plan members will be migrated to the Pro Plan beginning in May and pay $5 more a month.

The bump in price is likely to result in a healthy increase in revenue and improved margins. Profitability, in particular, remains elusive for the company, and the price hike could potentially control the bleeding.

On March 29, beleaguered FUBO stock gained 7.3% after options trading king Pete Najarian mentioned it on NBC’s Fast Money Halftime Report. According to Najarian, elevated call buying points to greater optimism among investors.

After Monday’s rally, FUBO stock sits 23% above its 52-week low of $6.01, made on March 15.

FuboTV has been killing it on the business front, recently delivering another quarter of triple-digit top-line growth. Revenue for the fourth quarter surged year over year to $230 million, excluding the acquisition of Molotov. Additionally, its total subscriber count more than doubled last year to 1.13 million.

FuboTV expects to blow past the $1 billion revenue mark this year after generating $638 million in 2021.

FUBO stock currently trades 50% below analysts’ average price target of $14.63. Hence, FUBO stock might offer healthy upside for investors at this time.

On the date of publication, Muslim Farooque did not have (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.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University. 

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.


Article printed from InvestorPlace Media, https://investorplace.com/2022/04/fubo-stock-is-up-today-is-it-a-buy/.

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