FuboTV shares at last check were 15% higher at $32.95.
Wedbush analyst Michael Pachter rates the company outperform with a $53 price target.
FuboTV delivered a "praiseworthy" beat and raise while it "soared over" its revenue and subscriber forecasts for the quarter, he said.
"Right now the focus is subscriber growth, and the company is showing that it can adeptly expand its base while growing average revenue per user, particularly ad ARPU, while keeping expenses under control," Pachter wrote.
BMO Capital's Daniel Salmon raised his price target to $30 from $25 while maintaining his market perform rating.
"[N]ow that product roadmap features gambling innovations like Live Sync, the likelihood of success is rising," he said.
Roth Capital rates the New York company buy while raising its price target to $45 from $42.
The investment firm says the company's increased its guidance despite the potential for higher costs. That means FuboTV has confidence that better engagement will help it hold on to customers and strengthen advertising revenue, he said.
Evercore ISI's Shweta Khajuria rates the company outperform and raised the price target to $40 from $33.90. The analyst expects FuboTV's new gambling feature will be a key differentiator for the company.
FuboTV reported a second-quarter net loss of 68 cents a share on revenue of $130.9 million.
Analysts surveyed by FactSet were expecting a loss of 49 cents a share on revenue of $121.4 million.