Zacks: Akazoo (NASDAQ:SONG) Given $11.00 Average Target Price by Analysts

Shares of Akazoo (NASDAQ:SONG) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a 12-month consensus target price of $11.00 for the company and are anticipating that the company will post ($0.01) earnings per share for the current quarter, according to Zacks. Zacks has also given Akazoo an industry rank of 105 out of 255 based on the ratings given to related companies.

A number of research firms have recently weighed in on SONG. Craig Hallum began coverage on shares of Akazoo in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Noble Financial reiterated a “buy” rating and issued a $12.00 price objective on shares of Akazoo in a research note on Thursday, November 28th. Finally, UBS Group began coverage on shares of Akazoo in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $12.00 price objective on the stock.

Shares of NASDAQ SONG traded up $0.01 during midday trading on Tuesday, reaching $5.17. The company had a trading volume of 4,100 shares, compared to its average volume of 18,344. The company’s 50-day moving average is $5.43. Akazoo has a 1 year low of $4.44 and a 1 year high of $7.49.

Akazoo (NASDAQ:SONG) last posted its quarterly earnings results on Monday, December 9th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.16. The company had revenue of $38.87 million during the quarter. On average, sell-side analysts forecast that Akazoo will post 0.83 earnings per share for the current year.

An institutional investor recently bought a new position in Akazoo stock. Owl Creek Asset Management L.P. acquired a new position in Akazoo (NASDAQ:SONG) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 52,500 shares of the company’s stock, valued at approximately $332,000. Owl Creek Asset Management L.P. owned 0.11% of Akazoo at the end of the most recent reporting period. Institutional investors and hedge funds own 5.53% of the company’s stock.

Akazoo Company Profile

Akazoo SA operates as an on-demand music streaming subscription company. It directly licenses music from various labels and provides online and offline listening platforms, social media integration, and a AI-driven new music recommendation engine. The company provides subscribers with unlimited online and offline streaming access to a catalog of approximately 45 million songs on a commercial-free basis.

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