Roth Capital Partners reiterated its Buy rating and $14 price target for LiveOne (NASDAQ: LVO) after the company announced a partnership with AT&T and Cisco to integrate its audio streaming services into AT&T's Connected Car ecosystem. Analyst Sean McGowan described the deal as another major business-to-business win for LiveOne, noting that the company has pursued large-scale partnerships across multiple industries for over a year.
According to Roth, the opportunity could be larger than initially anticipated. While AT&T has approximately 109 million wireless subscribers, the 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 growing alongside 5G adoption. McGowan wrote that even modest subscriber conversion rates could generate meaningful incremental revenue for LiveOne and suggested the relationship might eventually expand beyond Connected Car users. The full report is available at https://ibn.fm/Of91h.
The report also highlighted potential for management to increase guidance in coming weeks, citing PodcastOne's fiscal 2027 revenue outlook and contributions from recently signed partnerships. Roth further indicated that LiveOne may be positioned to resume share repurchases, noting management's previous interest and over $5 million remaining under its authorization. The firm believes the company's balance sheet has improved through debt conversions and warrant exercises, while recent partnership activity may have temporarily limited buybacks due to material nonpublic information considerations.
LiveOne (NASDAQ: LVO) is an award-winning, creator-first music, entertainment, and technology platform focused on delivering premium experiences worldwide through memberships and live and virtual events. Its subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, and others. More information is available at https://www.liveone.com.
Roth Capital Partners is a relationship-driven investment bank serving growth companies, providing capital raising, equity research, and M&A advisory. Details can be found at http://www.roth.com.
