Zacks: Brokerages Anticipate Livexlive Media Inc (NASDAQ:LIVX) Will Post Quarterly Sales of $12.00 Million

Equities analysts forecast that Livexlive Media Inc (NASDAQ:LIVX) will post $12.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Livexlive Media’s earnings. Livexlive Media reported sales of $7.97 million during the same quarter last year, which would suggest a positive year over year growth rate of 50.6%. The business is expected to issue its next quarterly earnings results on Wednesday, November 13th.

On average, analysts expect that Livexlive Media will report full year sales of $50.00 million for the current fiscal year. For the next year, analysts anticipate that the business will report sales of $0.00. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Livexlive Media.

Livexlive Media (NASDAQ:LIVX) last released its earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Livexlive Media had a negative return on equity of 231.67% and a negative net margin of 105.60%. The business had revenue of $9.50 million for the quarter, compared to the consensus estimate of $10.00 million.

A number of research analysts have recently commented on LIVX shares. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Livexlive Media in a research note on Friday, June 14th. Maxim Group set a $8.00 price target on Livexlive Media and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research cut Livexlive Media from a “hold” rating to a “sell” rating in a research note on Saturday, June 15th. Finally, ValuEngine cut Livexlive Media from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.56.

Shares of LIVX traded down $0.01 during trading hours on Friday, reaching $2.94. The stock had a trading volume of 150,729 shares, compared to its average volume of 79,681. Livexlive Media has a 12 month low of $2.12 and a 12 month high of $7.23. The company has a market cap of $146.75 million, a PE ratio of -4.08 and a beta of 1.37. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.57 and a quick ratio of 0.57. The stock has a 50-day moving average price of $3.11.

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Livexlive Media by 8,784.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,552 shares of the company’s stock valued at $41,000 after acquiring an additional 7,467 shares during the last quarter. Spark Investment Management LLC bought a new position in Livexlive Media during the 1st quarter worth $63,000. American International Group Inc. raised its position in Livexlive Media by 508.2% during the 4th quarter. American International Group Inc. now owns 19,388 shares of the company’s stock worth $96,000 after purchasing an additional 16,200 shares during the last quarter. Deutsche Bank AG raised its position in Livexlive Media by 9.3% during the 4th quarter. Deutsche Bank AG now owns 38,553 shares of the company’s stock worth $190,000 after purchasing an additional 3,288 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Livexlive Media by 210.4% during the 4th quarter. Bank of New York Mellon Corp now owns 78,594 shares of the company’s stock worth $390,000 after purchasing an additional 53,276 shares during the last quarter. Institutional investors own 21.62% of the company’s stock.

Livexlive Media Company Profile

LiveXLive Media, Inc engages in the acquisition, distribution, and monetization of live music, Internet radio, and music-related streaming and video content. The company operates LiveXLive, a live music streaming platform, as well as Slacker Radio, a streaming music service; and produces original music-related content.

Read More: Elliott Wave Theory

Get a free copy of the Zacks research report on Livexlive Media (LIVX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Livexlive Media (NASDAQ:LIVX)

Receive News & Ratings for Livexlive Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Livexlive Media and related companies with MarketBeat.com's FREE daily email newsletter.