Needham Initiates a Buy Rating on Chicken Soup For The Soul Entertainment (CSSE)

By Jason Carr

In a report released today, Laura Martin from Needham initiated coverage with a Buy rating on Chicken Soup For The Soul Entertainment (CSSEResearch Report) and a price target of $45.00. The company’s shares closed last Tuesday at $37.97.

According to TipRanks.com, Martin is a 5-star analyst with an average return of 26.8% and a 64.9% success rate. Martin covers the Services sector, focusing on stocks such as Tremor International, World Wrestling, and CuriosityStream.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Chicken Soup For The Soul Entertainment with a $50.83 average price target, a 38.8% upside from current levels. In a report issued on July 11, B.Riley Financial also reiterated a Buy rating on the stock with a $62.00 price target.

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Based on Chicken Soup For The Soul Entertainment’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $23.2 million and GAAP net loss of $6.94 million. In comparison, last year the company earned revenue of $13.24 million and had a GAAP net loss of $10.45 million.

Based on the recent corporate insider activity of 24 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 CSSE 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.

Chicken Soup for the Soul Entertainment, Inc. is an emerging growth company, which engages in the production and distribution of video content. The firm distributes and exhibits video on-demand content directly to consumers across all digital platforms, such as smartphones, tablets, gaming consoles. It also provides distribution of movies and television series worldwide to consumers through license agreements across all media, including theatrical, home video, pay-per-view, free, cable and pay television, VOD and new digital media platforms worldwide. The company was founded on May 4, 2016 and is headquartered in Cos Cob, CT.