LiveOne Gets Buy Rating Boost from Roth on AT&T Partnership

LiveOne (NASDAQ: LVO) has received a strong vote of confidence from Roth Capital Partners following its newly announced collaboration with AT&T and Cisco, which will integrate LiveOne's audio streaming services into AT&T's Connected Car ecosystem. Roth Managing Director and Senior Research Analyst Sean McGowan reiterated a Buy rating and $14 price target, describing the AT&T partnership as another major business-to-business win for LiveOne. The analyst noted that the company has spent over a year pursuing large-scale partnerships across multiple industries, and the AT&T deal is one of its most significant to date. Roth believes the opportunity could be larger than initially anticipated: while AT&T has approximately 109 million wireless subscribers, the initial Connected Car market is estimated at about 20 million vehicles, with AT&T's connected vehicle base around 32 million and expanding with 5G adoption. Even modest subscriber conversion rates could generate meaningful incremental revenue for LiveOne, and the relationship may eventually expand beyond Connected Car users.

In a June 4 research note, Roth also suggested that LiveOne may raise its guidance following recent PodcastOne projections and the growing contribution from recently signed partnerships. The firm indicated that LiveOne could resume share repurchases, as management has previously expressed interest in buybacks and still has over $5 million remaining under its authorization. Roth believes the company's balance sheet has improved through debt conversions and warrant exercises, and that recent partnership activity may have temporarily limited repurchase activity due to material nonpublic information considerations. Roth concluded by reiterating its Buy rating and $14 price target on the shares. The full report is available at https://ibn.fm/Of91h.

LiveOne is an award-winning, creator-first music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. Its subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify, and Splitmind. LiveOne is available on iOS, Android, Web, Roku, Apple TV, Samsung Smart TVs, Amazon Fire TV, Android TV, LG Smart TVs, VIZIO Smart TVs, Amazon Alexa, Sonos, and other devices. For more information, visit https://www.liveone.com.