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 $1.75. The company’s shares closed yesterday at $1.27.
Wold commented:
“Before the open on Wednesday, 8/29, EVINE Live (EVLV) reported 2Q18 results that were mixed vs. our expectations but, on a positive note, demonstrated Y/Y sales growth in consecutive quarters for the first time since 1Q16 as well as stronger margin flow-through with the benefits of a revamped product mix and increasing shift to subscription offerings. 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 5-star analyst with an average return of 11.3% and a 63.3% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
EVINE Live has an analyst consensus of Moderate Buy, with a price target consensus of $1.88.
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Based on EVINE Live’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $40K. In comparison, last year the company had a GAAP net loss of $1.99 million.
Based on the recent corporate insider activity of 23 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 EVLV in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
