Maxim Group Thinks Livexlive Media Inc’s Stock is Going to Recover

By Jason Carr

Maxim Group analyst Allen Klee maintained a Buy rating on Livexlive Media Inc (LIVXResearch Report) yesterday and set a price target of $8. The company’s shares closed yesterday at $3.78, close to its 52-week low of $2.52.

Klee commented:

“Management preannounced F2019 revenue, operating income, and adjusted operating income that were below consensus estimates. While disappointing, the results still represent significant top line growth rates and the company ended the quarter with cash levels at similar levels to December 31, 2018.”

According to TipRanks.com, Klee has 0 stars on 0-5 star ranking scale with an average return of -19.9% and a 23.2% success rate. Klee covers the Technology sector, focusing on stocks such as Sify Technologies Limited, Dolphin Entertainment Inc, and ATN International Inc.

Livexlive Media Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9, implying a 138.1% upside from current levels. In a report issued on May 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $10 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 31 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.