why Live Nation Entertainment Inc. [LYV] is a Good Choice for Investors After New Price Target of $58.36

Live Nation Entertainment Inc. [NYSE: LYV] closed the trading session at $66.08 on 11/13/20. The day’s price range saw the stock hit a low of $62.75, while the highest price level was $66.45. The company report on November 6, 2020 that Live Nation Entertainment To Present At Liberty Investor Meeting.

Live Nation Entertainment, Inc. (NYSE: LYV), the world’s leading live entertainment company, today announced that Michael Rapino, Live Nation Entertainment’s President and Chief Executive Officer, will be presenting at Liberty’s Investor Meeting at approximately 8:45 a.m. PT on Thursday, November 19, 2020. During the presentation, Mr. Rapino may discuss the company’s financial performance, operational outlook, and other forward-looking matters.

A live webcast of the presentation will be accessible from the “News / Events” section of the company’s website at investors.livenationentertainment.com.

The stocks have a year to date performance of -7.54 percent and weekly performance of 17.92 percent. The stock has been moved at 43.19 percent over the last six months. The stock has performed 21.54 percent around the most recent 30 days and changed 29.85 percent over the most recent 3-months.

If compared to the average trading volume of 2.35M shares, LYV reached to a volume of 4076891 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Live Nation Entertainment Inc. [LYV]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LYV shares is $58.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LYV stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Live Nation Entertainment Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on October 27, 2020. The new note on the price target was released on March 31, 2020, representing the official price target for Live Nation Entertainment Inc. stock. Previously, the target price had yet another drop from $63 to $35, while Citigroup kept a Neutral rating on LYV stock.

The Average True Range (ATR) for Live Nation Entertainment Inc. is set at 3.27, with the Price to Sales ratio for LYV stock in the period of the last 12 months amounting to 2.99.

LYV stock trade performance evaluation

Live Nation Entertainment Inc. [LYV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.92. With this latest performance, LYV shares gained by 21.54% in over the last four-week period, additionally plugging by 43.19% over the last 6 months – not to mention a rise of 1.71% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LYV stock in for the last two-week period is set at 67.64, with the RSI for the last a single of trading hit 72.74, and the three-weeks RSI is set at 65.92 for Live Nation Entertainment Inc. [LYV]. The present Moving Average for the last 50 days of trading for this stock 55.75, while it was recorded at 64.33 for the last single week of trading, and 50.79 for the last 200 days.

Live Nation Entertainment Inc. [LYV]: An insightful look at the core fundamentals

Live Nation Entertainment Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for Live Nation Entertainment Inc. [LYV] stock

With the latest financial reports released by the company, Live Nation Entertainment Inc. posted -0.88/share EPS, while the average EPS was predicted by analysts to be reported at -0.71/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -23.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LYV.

Live Nation Entertainment Inc. [LYV]: Insider Ownership positions

There are presently around $10,078 million, or 73.10% of LYV stock, in the hands of institutional investors. The top three institutional holders of LYV stocks are: VANGUARD GROUP INC with ownership of 15,572,782, which is approximately 0.112% of the company’s market cap and around 1.50% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 12,565,167 shares of the stock with an approximate value of $830.31 million in LYV stocks shares; and CANADA PENSION PLAN INVESTMENT BOARD, currently with $709.25 million in LYV stock with ownership of nearly -0.118% of the company’s market capitalization.

218 institutional holders increased their position in Live Nation Entertainment Inc. [NYSE:LYV] by around 20,421,774 shares. Additionally, 227 investors decreased positions by around 33,200,470 shares, while 67 investors held positions by with 98,896,881 shares. The mentioned changes placed institutional holdings at 152,519,125 shares, according to the latest SEC report filing. LYV stock had 77 new institutional investments in for a total of 7,069,808 shares, while 74 institutional investors sold positions of 13,526,656 shares during the same period.

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