In a report released today, Kevin Dede from H.C. Wainwright reiterated a Buy rating on Livexlive Media Inc (LIVX), with a price target of $6. The company’s shares closed yesterday at $3.88, close to its 52-week low of $2.52.
Dede said:
“We understand Slacker had developed good technology, but there were some functional loose ends LiveXLive was able to wrap up in delivering what PC Mag now ranks number two behind Sirius XM Holdings (SIRI; not rated), but ahead of number three ranked Spotify (SPOT; not rated). While we are not able to confirm this supposition, we doubt Slacker had achieved as high a ranking from PC Mag in the past. Interestingly, one PC Mag review knock on Slacker was the lack of video. We understand adding this capability is soon to come, and imagine Slacker could potentially move to the number one position as its proprietary content library derived from on-the-scenes activities at music festivals expands in parallel with the number of covered festivals.”
According to TipRanks.com, Dede is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -17.1% and a 24.5% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and SuperCom.
Currently, the analyst consensus on Livexlive Media Inc is a Moderate Buy with an average price target of $6.
See today’s analyst top recommended stocks >>
The company has a one-year high of $11.11 and a one-year low of $2.52. Currently, Livexlive Media Inc has an average volume of 52.87K.
Based on the recent corporate insider activity of 15 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.
