Livexlive Media (LIVX) Receives a Buy from H.C. Wainwright

In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on Livexlive Media (LIVXResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $2.05.

According to TipRanks.com, Dede has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -8.2% and a 35.2% success rate. Dede covers the Technology sector, focusing on stocks such as WISeKey International Holding, Magic Software Enterprises, and POET Technologies.

Currently, the analyst consensus on Livexlive Media is a Moderate Buy with an average price target of $6.25.

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Based on Livexlive Media’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $10.51 million and GAAP net loss of $7.53 million. In comparison, last year the company earned revenue of $9.5 million and had a GAAP net loss of $10.97 million.

Based on the recent corporate insider activity of 35 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 acquisition, distribution and monetization of live music, Internet radio, and music-related streaming and video content. It provides music fans the ability to watch, listen, experience, discuss, deliberate, and enjoy live music and entertainment. The company also involves in the sale of subscription-based services and advertising from music offerings and the licensing of live music content rights and services. LiveXLive Media was founded on December 28, 2009 by Robert Scott Ellin and is headquartered in Beverly Hills, CA.