In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on Gaia Inc (GAIA), with a price target of $24. The company’s shares closed yesterday at $11.40, close to its 52-week low of $9.36.
Wold noted:
“After the close on Monday (3/4), Gaia (GAIA) reported 4Q18 results that came in below our modeled expectations due to the combination of an earlier-than-anticipated move towards a more targeted customer acquisition focus and accelerated advertising spend through a partner matching funds program. More importantly, we went into the 4Q18 print with the expectation GAIA would announce a materially positive shift in strategy that would accelerate the move to positive EBITDA given increasing investor concerns recently around balance sheet preservation and avoiding revisiting the capital markets.”
According to TipRanks.com, Wold ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.8% and a 38.4% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
Currently, the analyst consensus on Gaia Inc is a Strong Buy with an average price target of $25, which is an 119.3% upside from current levels. In a report issued on February 26, Roth Capital also maintained a Buy rating on the stock with a $23 price target.
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Based on Gaia Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $10.33 million. In comparison, last year the company had a GAAP net loss of $5.58 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GAIA in relation to earlier this year.
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Gaia, Inc. operates a global digital video streaming subscription service and online community. It provides its services through the following channels: Seeking Truth, Transformation, and Yoga. The company was founded by Jirka Rysavy on July 7, 1988 and is headquartered in Louisville, CO.
