H.C. Wainwright analyst Kevin Dede reiterated a Buy rating on Livexlive Media Inc (LIVX) today and set a price target of $10. The company’s shares closed on Friday at $4.11.
Dede wrote:
“We have since been coached otherwise, and see the cash LiveXLive collects helpful in developing the company’s resources to cover a greater number of festivals each year. EDC Las Vegas, recall, is exclusively livestreamed by LiveXLive and represents the foremost electronic dance music festival worldwide, attracting 450,000 attendees watching and listening to 240 performing artists over the three day festival period.”
According to TipRanks.com, Dede ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.3% and a 29.7% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Microvision, SuperCom, and Resonant.
Currently, the analyst consensus on Livexlive Media Inc is a Moderate Buy with an average price target of $9.50.
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Based on Livexlive Media Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $6.56 million. In comparison, last year the company had a GAAP net loss of $9.5 million.
Based on the recent corporate insider activity of 31 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 LIVX 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.
LiveXLive Media, Inc. engages in the pacquisition, distribution and monetization of live music, Internet radio, and music-related streaming and video content. It offers music fans the ability to watch, listen, experience, discuss, deliberate, and enjoy live music and entertainment.
