EVINE Live Gets a Buy Rating from B.Riley FBR

By Austin Angelo

In a report released today, Eric Wold from B.Riley FBR maintained a Buy rating on EVINE Live (NASDAQ: EVLV), with a price target of $2. The company’s shares opened today at $1.20.

Wold said:

“Although EVINE Live (EVLV) reported 4Q17 results and provided initial 2018 guidance that both came in below expectations, we believe the strategy that was put into place by management two years ago continues to deliver solid underlying purchase trends and contribution margins as the surface layers are peeled away. While the double-digit decline in EVLV shares this morning is somewhat understandable given the results/guidance, we remain optimistic on a return to sales growth in 2018 and a more than doubling in adjusted EBITDA over the past three years— and believe EVLV shares do not reflect this opportunity trading at 0.2x sales and 6.1x EBITDA at the 2018 guidance midpoints. We are maintaining our Buy rating.”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 6.5% and a 54.5% success rate. Wold covers the Services sector, focusing on stocks such as Salem Communications Corp, Lions Gate Ent Corp Cl A, and Ballantyne Strong Inc.

EVINE Live has an analyst consensus of Moderate Buy, with a price target consensus of $2.

Based on EVINE Live’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $150 million and GAAP net loss of $1.1 million. In comparison, last year the company earned revenue of $191 million and had a net profit of $2.05 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 EVLV 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.

EVINE Live, Inc. is a multichannel electronic retailer that markets, sells and distributes products to consumers through TV, online, mobile and social media. The company’s primary product, a television shopping network, ShopNBC, which is distributed primarily through cable and satellite affiliation agreements, and markets brand name and private label products in the categories of jewelry and watches; home and electronics; beauty, health and fitness; and fashion and accessories. It also operates ShopNBC.com, an e-commerce platform that sells products appearing on its television shopping channel, as well as an extended assortment of online-only merchandise. The company’s programming and products are also marketed through mobile devices, including smartphones and tablets, such as the iPad, and through the social media channels. The company was founded on June 25, 1990 and is headquartered in Eden Prairie, MN.