What's Up With FuboTV Stock Popping Off Today?

FuboTV Inc FUBO shares are trading higher by 19.5% at $21.12 in Wednesday's pre-market session after the company reported better-than-expected first-quarter sales results and issued second-quarter and FY21 sales guidance above estimates.

FuboTV reported quarterly sales of $119.70 million, which beat the analyst consensus estimate of $103.79 million.

See Also: FuboTV Surges On Q1 Revenue Beat, Raises Guidance For Revenue And Subscribers

Roth Capital analyst Darren Aftahi also maintains FuboTV with a Buy and lowers the price target from $55 to $42. 

FuboTV is a sports-first, live TV streaming company, offering subscribers access to tens of thousands of live sporting events annually as well as news and entertainment content. Its platform, FuboTV, allows customers to access content through streaming devices and on SmartTVs, mobile phones, tablets and computers.