In a report released today, Kevin Dede from H.C. Wainwright initiated coverage with a Buy rating on Livexlive Media Inc (NASDAQ: LIVX) and a price target of $6. The company’s shares closed yesterday at $2.98, close to its 52-week low of $2.64.
Dede observed:
“Valuation While compared against far more mature companies, LiveXLive may garner a high-growth premium once its growth trajectory is demonstrated. Later, at maturity, we suspect the company to command a valuation closer to that of its content delivery peers here. FactSet Research Systems Inc. (FDS; not rated), company reports and H.C.W. estimates. Risks of investment may appear greater than they are, but caution and careful observation are warranted.”
According to TipRanks.com, Dede is ranked 0 out of 5 stars with an average return of -13.3% and a 31.6% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Microvision, SuperCom, and Resonant.
Livexlive Media Inc has an analyst consensus of Moderate Buy, with a price target consensus of $6.
See today’s analyst top recommended stocks >>
The company has a one-year high of $30 and a one-year low of $2.64. Currently, Livexlive Media Inc has an average volume of 52.39K.
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.
