Shares of FuboTV Inc FUBO remained under pressure in early trading on Monday after reporting fourth-quarter results.

Here are some key analyst takeaways.

• Needham analyst Laura Martin maintained a Buy rating, while raising the price target from $2.00 to $3.50.
• Barrington Research analyst Patrick Sholl reiterated a Market Perform rating on the stock.

Check out other analyst stock ratings.

Needham: FuboTV reported fourth-quarter revenues of $443.3 million, up 8% year-on-year, Martin said in a note. The company recorded 47,000 global subscriber additions, down 65% year-on-year and missing Needham's estimates by 13%, she added.

Management's guidance for the first quarter reflects a 4% year-on-year decline in North American subscribers. It also reflects a 16% downturn in subscribers in the rest of the world, the analyst stated. "While FUBO is focused on growing its installed base of subscribers, we are most excited about high-margin add-on new revenue streams such as up-sell premium tiers, advertising, channel fees, etc.," she further wrote.

Barrington Research: FuboTV refrained from providing annual guidance. This is due to the uncertainties surrounding the timing of its combination with Hulu and its decision to stop distributing Univision. According to Sholl, the headwinds reflected in the first-quarter guidance could extend to the rest of the year. That is, if, the company does not find a resolution around these issues.

The combination with Hulu will allow FuboTV to offer various service tiers and provide more choices to customers, the analyst stated. "The company is making progress on profitability though the environment remains challenging, with limited ability to push on pricing and continued growth in distribution expenses," he further wrote.

Price Action: Shares of FuboTV had declined by 1.98% to $2.96 at the time of publication on Monday.

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