Lizhi Inc (LIZI) Receives a Buy from Needham

Needham analyst Vincent Yu assigned a Buy rating to Lizhi Inc (LIZIResearch Report) today and set a price target of $9.00. The company’s shares closed last Wednesday at $7.85.

According to TipRanks.com, Yu is a 5-star analyst with an average return of 66.5% and a 70.0% success rate. Yu covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, China Online Education Group, and Ehang Holdings.

Lizhi Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.00.

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Based on Lizhi Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $365 million and GAAP net loss of $28.95 million. In comparison, last year the company earned revenue of $191 million and had a GAAP net loss of $1.55 million.

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Lizhi, Inc. owns and operates an interactive audio entertainment platform and an online audio platform in China. The company’s app Lizhi allows users to create, store and share their own podcasts on mobile devices with the help of intuitive recording and reach their audience through various discovery tools. Lizhi was founded by Jinnan Lai and Ning Ding in November 2010 and is headquartered in Guangzhou, China.