We last wrote about the FuboTV stock (NYSE:FUBO) early in August in the run up to their earnings. The stock was at $26. After earnings were released, the stock price rose to an intra day high of $33.68. Since then, the stock has dropped, recovered, dropped again and is now making a strong run into their next earnings, due November 9th.

Q3 Earnings whisper

Wall Street expects FuboTV to announce $143.6M with an earnings per share of -$0.63. The company has beaten and raised its subscriber and revenue guidance in every quarter since going public last year. We expect these numbers to be outdone again and strong forecasts to be announced. We will also be keeping an ear out for any mention about the sports-betting sector, which looks set to thrive in the future. This feature has helped the stocks performance in recent weeks.

Sports seasons restarted within this quarter. With FuboTV smashing earnings within their Q2 results, which incorporated the off-season for most major sports within the US, Q3 results should catch a lot of attention.

Past offering and institutional investors

The stock did well following the last earnings, but the price fell after FuboTV announced that it was putting part of its mixed shelf offering to use ($500M). We believe gains will hold after this next earnings call.

Institutions have been quietly buying FUBO shares for a while. At the end of February, 229 institutions were long on the stock. Fast forward to more recent data, the end of September had 470 institutions. Institutions will hold through the ups and downs. They see the long term growth of this company. This is great insight for investors. You want to be investing in stocks that smart money is also in. FUBO ticks that box.

Recent price action

Today, FuboTV stock price has moved up to $33 at the time of writing, up 10.6% on the day. Volume is over 50% higher than the 50DMA and we are only two hours into the day. There is resistance above between $33.70 and $34.80. There is still a week before earnings. The run up into this could break through this resistance and the price could move easily towards $43 in the very short term, especially with another earnings beat. If all goes well, I think this can be achieved within the month.

Catalysts

FuboTV has been named the gaming operator of NASCAR. They have partnered with the Cleveland Cavaliers and New York Jets, as well as acquiring exclusive rights to Serie A and Coppa Italia. The sports-betting will keep fuelling a move as FuboTV cement themselves as a serious contender within that market.

Overall

FuboTV offers a great opportunity for a short term swing, building off this current momentum, or a long term investment. Insider ownership is a great indication for you to add FUBO for a much bigger move. The company has always been building off their growth and continually delivering great results. If earnings are beat, I can see this stock performing very well over the next quarter.

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