In a report released today, Brett Knoblauch from Berenberg Bank maintained a Hold rating on Live Nation Entertainment (LYV), with a price target of $40.00. The company’s shares closed last Wednesday at $47.64.
According to TipRanks.com, Knoblauch is a 4-star analyst with an average return of 17.1% and a 54.3% success rate. Knoblauch covers the Technology sector, focusing on stocks such as LiveRamp Holdings, Liveperson, and Medallia.
Live Nation Entertainment has an analyst consensus of Moderate Buy, with a price target consensus of $45.50.
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Based on Live Nation Entertainment’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.37 billion and GAAP net loss of $185 million. In comparison, last year the company earned revenue of $1.73 billion and had a GAAP net loss of $52.44 million.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYV in relation to earlier this year. Most recently, in June 2020, Elizabeth Kathleen Willard, the EVP & CFO of LYV sold 68,040 shares for a total of $3,642,181.
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.
Live Nation Entertainment, Inc. is an entertainment company, which engages in producing, marketing and selling live concerts for artists via global concert pipe. It operates through the following segments: Concerts, Sponsorship & Advertising and Ticketing. The Concerts segment involves in the promotion of live music events in owned or operated and in rented third-party venues. The Sponsorship and Advertising segment offers sales force that creates and maintains relationships with sponsors through a combination of international, national, and local opportunities that allow businesses to reach customers through concerts, venue, festivals and ticketing assets, including advertising on websites. The Ticketing segment includes selling of tickets for events on behalf of clients and retains a fee, or service charge for these services. The company was founded in 1996 and is headquartered in Beverly Hills, CA.
