Roth Capital Partners has reiterated its Buy rating and $14 price target for LiveOne (NASDAQ: LVO) following the company's recently announced collaboration with AT&T and Cisco. The partnership will integrate LiveOne's audio streaming services into AT&T's Connected Car ecosystem, marking another significant business-to-business win for the music and entertainment platform.
In a June 4 research note, Roth Managing Director and Senior Research Analyst Sean McGowan highlighted the deal as one of LiveOne's most important to date, noting that the company has spent over a year pursuing large-scale partnerships across multiple industries. The analyst suggested that the opportunity could be larger than initially anticipated. While AT&T reports approximately 109 million wireless subscribers, the initial Connected Car market is estimated at roughly 20 million vehicles, with AT&T's connected vehicle base reportedly around 32 million and expanding alongside 5G adoption. McGowan wrote that even modest subscriber conversion rates could generate meaningful incremental revenue for LiveOne and that the relationship could eventually extend beyond Connected Car users.
The report also pointed to potential upward revisions in guidance. Roth cited PodcastOne's fiscal 2027 revenue outlook and the growing contribution from recently signed partnerships as factors that could lead management to raise forecasts in the coming weeks. Additionally, Roth indicated that LiveOne may be positioned to resume share repurchases, noting that management has previously expressed interest in buybacks and still has more than $5 million remaining under its authorization. The firm 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.
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. For more information, visit https://www.liveone.com.
Roth Capital Partners is a relationship-driven investment bank focused on serving growth companies and their investors, providing capital raising, high-impact equity research, and other services. For more information on Roth, visit http://www.roth.com.
This article is based on a press release distributed by MissionIR, a specialized communications platform within the Dynamic Brand Portfolio @ IBN. For more information, visit https://www.MissionIR.com.
