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 $5.38.
Dede said:
“We suspect LiveXLive may stick to its projected 17 iHeart events in 2019, including ALTerEgo (the successful recent completion of which led to the newly announced expanded arrangement), iHeartCountry, iHeartRadio Wango Tango, iHeartRadio Fiesta Latina, and many more, but, importantly and apparently missed given little Street recognition, the opportunity presented could take another sizeable leg up. Meanwhile, and strangely as we see it, in the week following the iHeart announcement, LiveXLive’s shares have sat flat in the $5.36-5.38 per share range, mirroring a flat Nasdaq for the week, but largely, in our minds, presenting a disconnect in the understanding of the opportunity.”
According to TipRanks.com, Dede has 0 stars on 0-5 star ranking scale with an average return of -13.9% and a 27.2% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as Top Image Systems, Microvision, and Resonant.
Livexlive Media Inc has an analyst consensus of Strong Buy, with a price target consensus of $8.33, a 54.8% upside from current levels. In a report issued on March 18, Maxim Group also initiated coverage with a Buy rating on the stock with a $9 price target.
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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 33 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.
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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.
