Bernstein Reaffirms Their Buy Rating on Live Nation Entertainment (LYV)

In a report released yesterday, Ian S. Moore from Bernstein maintained a Buy rating on Live Nation Entertainment, with a price target of $200.00. The company’s shares closed yesterday at $166.28.

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S. Moore covers the Communication Services sector, focusing on stocks such as TKO Group Holdings, Spotify, and Live Nation Entertainment. According to TipRanks, S. Moore has an average return of -9.2% and a 36.84% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Live Nation Entertainment with a $189.38 average price target, implying a 13.89% upside from current levels. In a report released on April 6, Guggenheim also assigned a Buy rating to the stock with a $192.00 price target.

Based on Live Nation Entertainment’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.31 billion and a GAAP net loss of $202.1 million. In comparison, last year the company earned a revenue of $5.68 billion and had a net profit of $200.99 million

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LYV in relation to earlier this year. Last month, Jeffrey Hinson, a Director at LYV sold 944.00 shares for a total of $156,581.28.