fuboTV Inc. (FUBO) experienced a significant pre-market surge, with its stock price rising 5.65% during the early trading session on Wednesday.
The sharp increase appears to be driven by positive sentiment stemming from a detailed valuation analysis and a maintained bullish analyst rating. A recent analysis indicated that FuboTV is significantly undervalued, with a discounted cash flow model suggesting the stock is 96.1% below its intrinsic value of approximately $45.20 per share. Additionally, the stock's price-to-sales ratio of 0.14x is well below industry and peer averages, further supporting the undervaluation thesis.
Concurrently, Needham maintained its Buy rating on fuboTV, providing additional confidence to investors. This combination of fundamental valuation support and positive analyst sentiment likely contributed to the pre-market buying activity.