The Professional Fighters League (PFL) has signed a multi-year partnership with fuboTV, Inc. (FUBO) for its new PFL Challenger Series. Formerly known as the World Series of Fighting, PFL is a sports league of mixed martial arts.
New York-based fuboTV is a live TV streaming service that offers more than 100 live TV channels. Shares of the company closed 4.6% down on Thursday but gained 0.1% in the after-hours trading session to end the day at $18.88.
Partnership Details
fuboTV will stream the PFL Challenger Series on Fubo Sports Network and fuboTV. Starting February 18, 2022, the league will stream every Friday in February, March, and April.
Further, fuboTV’s free-to-play games will allow viewers to interact with the live competition, and Fubo Sportsbook will become the exclusive gambling sponsor of the series. (See Insiders’ Hot Stocks on TipRanks)
CEO Comments
The CEO of fuboTV, David Gandler, said, “This partnership will give our audience unprecedented ways to interact and engage with the PFL. We are looking forward to bringing an interactive sports and entertainment television experience to consumers next year through this very unique partnership.”
Wall Street’s Take
Recently, J.P. Morgan (JPM) analyst Anna Lizzul initiated coverage on the stock with a Buy rating and a price target of $28 (48.5% upside potential).
In a research note to investors, the analyst said that the company operates in a “highly competitive environment,” and there are a few risks to the business model in the long term.
Lizzul is of the view that the stock currently presents an attractive entry point following a 40% decline in price since the release of the third-quarter results.
Overall, the stock has a Moderate Buy consensus rating based on 6 Buys and 3 Holds. The average fuboTV price target of $43.71 implies 131.8% upside potential. Shares have lost 34.7% over the past year.
Website Traffic
TipRanks’ Website Traffic Tool, which uses data from SEMrush Holdings (SEMR), the world’s biggest website usage monitoring service, offers insight into fuboTV’s performance.
According to the tool, compared to the previous year, the company’s website traffic registered a 43.2% rise in global visits in November. Moreover, the website traffic has increased 45.8% year-to-date against the same period last year.
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