Roth Capital Partners reiterated its Buy rating and $14 price target for LiveOne (NASDAQ: LVO) following the company's recently announced collaboration with AT&T and Cisco, which integrates LiveOne's audio streaming services into AT&T's Connected Car ecosystem. In a June 4 research note, Roth Managing Director and Senior Research Analyst Sean McGowan described the agreement as another significant addition to LiveOne's expanding roster of B2B partnerships.
According to Roth, the opportunity could be larger than initially envisioned. While AT&T reports approximately 109 million wireless subscribers, the initial Connected Car market targeted by the agreement is estimated at roughly 20 million vehicles. However, AT&T's connected vehicle base reportedly stands around 32 million and is expanding alongside 5G adoption. McGowan noted 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 analyst highlighted that LiveOne has spent more than a year pursuing large-scale partnerships across multiple industries, characterizing the AT&T deal as one of its most significant to date. Roth also pointed to potential for management to increase guidance in coming weeks, citing PodcastOne's fiscal 2027 revenue outlook and growing contributions 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 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 and content worldwide. The company's subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify, and Splitmind.
For more details on the partnership, visit the full report at https://ibn.fm/Of91h.
