LiveXLive shares soared 12.3% in the last trading session to close at $5.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.9% gain over the past four weeks.
LIVX’s stock gained after an analyst provided a rating upgrade. The price jump is largely driven by optimism over its virtual concerts strategy that has proven to be an effective alternative amid the COVID-19 pandemic. The music streaming service company also announced an exclusive pay-per-view rap concert specifically designed to support artists with a direct-to-consumer model, especially at a time when the global entertainment industry has come to a standstill. With an extensive subscriber base, the company is striving to gain a competitive advantage in the global market, supported by various business transformation initiatives which make it well positioned to boost its profitability in the long run.
Price and Consensus
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +26.7%. Revenues are expected to be $20 million, up 102.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For LiveXLive, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LIVX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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LiveXLive (LIVX) Soars 12.3%: Is Further Upside Left in the Stock?
LiveXLive shares soared 12.3% in the last trading session to close at $5.31. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 16.9% gain over the past four weeks.
LIVX’s stock gained after an analyst provided a rating upgrade. The price jump is largely driven by optimism over its virtual concerts strategy that has proven to be an effective alternative amid the COVID-19 pandemic. The music streaming service company also announced an exclusive pay-per-view rap concert specifically designed to support artists with a direct-to-consumer model, especially at a time when the global entertainment industry has come to a standstill. With an extensive subscriber base, the company is striving to gain a competitive advantage in the global market, supported by various business transformation initiatives which make it well positioned to boost its profitability in the long run.
Price and Consensus
This company is expected to post quarterly loss of $0.11 per share in its upcoming report, which represents a year-over-year change of +26.7%. Revenues are expected to be $20 million, up 102.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For LiveXLive, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LIVX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>