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Fox Corporation’s shares have reached an unprecedented peak, touching an all-time high of $57.73, with the media giant now commanding a market capitalization of $26.1 billion. According to InvestingPro analysis, the stock’s RSI indicates overbought territory, suggesting investors should monitor valuations carefully. This milestone underscores a remarkable period of growth for the media giant, which has seen its stock value surge by an impressive 93% over the past year. Investors have rallied behind Fox’s robust performance in a competitive landscape, evidenced by its perfect Piotroski Score of 9 and strong EBITDA of $3.38 billion. Trading at a P/E ratio of 11.3x, the stock continues to attract attention, reflecting confidence in the company’s strategic direction and financial health. For deeper insights into Fox’s valuation and 14 additional exclusive ProTips, check out the comprehensive Pro Research Report available on InvestingPro. The ascent to this record level marks a significant moment for Fox Corp (NASDAQ:FOXA), as it continues to navigate the dynamic entertainment and media industry with strong fundamentals and operational efficiency.
In other recent news, FOX Corp. reported impressive financial results, with earnings per share for the December quarter reaching $0.96, far surpassing the anticipated $0.64. This was accompanied by a 5.3% revenue increase beyond expectations, driven by strong performances in election coverage and live sports events. Notably, the Super Bowl LIX broadcast on FOX and Tubi generated over $800 million in ad revenue, marking a new record for the event. The game drew an average audience of 127.7 million viewers, setting a new viewership record.
Analysts have responded positively to these developments, with UBS raising its price target for FOX Corp. to $63 while maintaining a Buy rating, citing an optimistic outlook for revenue and EBITDA growth. Guggenheim Securities also increased its price target to $60, noting strong growth in the company’s sports broadcasting and FOX News segments. Additionally, CFRA adjusted its price target to $57, maintaining a Hold rating, acknowledging FOX Corp.’s earnings performance and strategic initiatives. These recent developments underscore FOX Corp.’s strong position in the evolving media landscape, particularly with the expansion of its Tubi streaming service and direct-to-consumer offerings.
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