In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on EVINE Live (NASDAQ: EVLV), with a price target of $1.50. The company’s shares closed yesterday at $1.11.
Wold said:
“Before the open on Wednesday, 5/30, EVINE Live (EVLV) reported 1Q18 results that were mixed vs. our expectations but, on a positive note, demonstrated a return to Y/Y sales growth for the first time in years as well as stronger margin flow-through with the benefits of a revamped product mix and increasing shift to subscription offerings. While a <1% growth rate in the quarter is not impressive on its own, relative to the peer group, these results do stand out. Furthermore, we believe the company is only just beginning to see the benefits of both the expanded HD household reach as well as the operating leverage to be gained from the push of subscriptions—especially within the Beauty & Wellness product category."
According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.7% and a 55.1% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
EVINE Live has an analyst consensus of Strong Buy, with a price target consensus of $1.98.
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The company has a one-year high of $1.62 and a one-year low of $0.76. Currently, EVINE Live has an average volume of 539.1K.
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EVINE Live, Inc. is a multichannel electronic retailer that markets, sells and distributes products to consumers through TV, online, mobile and social media. The company’s primary product, a television shopping network, ShopNBC, which is distributed primarily through cable and satellite affiliation agreements, and markets brand name and private label products in the categories of jewelry and watches; home and electronics; beauty, health and fitness; and fashion and accessories. It also operates ShopNBC.com, an e-commerce platform that sells products appearing on its television shopping channel, as well as an extended assortment of online-only merchandise. The company’s programming and products are also marketed through mobile devices, including smartphones and tablets, such as the iPad, and through the social media channels. The company was founded on June 25, 1990 and is headquartered in Eden Prairie, MN.
