LiveOne Shares Get $14 Price Target from Roth on AT&T Connected Car Deal
Roth Capital reiterated its Buy rating and $14 price target for LiveOne after the company announced a partnership with AT&T and Cisco to integrate its audio streaming into AT&T's Connected Car ecosystem, potentially providing access to millions of new subscribers.
Roth Capital Partners has reiterated its Buy rating and $14 price target for LiveOne (NASDAQ: LVO), citing the company's newly announced collaboration with AT&T and Cisco as a significant business-to-business win that could unlock a large subscriber base. The partnership will make LiveOne's audio streaming services available through AT&T's Connected Car ecosystem, which the analyst believes could ultimately provide access to a significantly larger subscriber base than initially anticipated.
In a June 4 research note, Roth Managing Director and Senior Research Analyst Sean McGowan described the agreement as one of LiveOne's most significant B2B partnerships to date, noting that the company has spent over a year pursuing large-scale deals across multiple industries. While AT&T reported approximately 109 million wireless subscribers, the initial Connected Car market targeted by the agreement 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 suggested the relationship could eventually expand beyond Connected Car users.
The report also highlighted the potential for management to increase guidance in coming weeks, citing PodcastOne's fiscal 2027 revenue outlook and the growing contribution from recently signed partnerships. Roth further 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 because of 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. The company's subsidiaries include Slacker Radio, PodcastOne (NASDAQ: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify, and Splitmind. LiveOne is available on multiple platforms including iOS, Android, Web, Roku, Apple TV, Amazon Alexa, and various smart TV systems. For more information, visit https://www.liveone.com.
The full report from Roth can be accessed at https://ibn.fm/Of91h. Roth is a relationship-driven investment bank focused on serving growth companies and their investors, with services including capital raising, equity research, sales and trading, and M&A advisory. For more on Roth, visit https://www.roth.com.