Analysts Set $11.00 Price Target for Akazoo (NASDAQ:SONG)

Shares of Akazoo (NASDAQ:SONG) have received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a 12-month consensus price target 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 assigned Akazoo an industry rank of 67 out of 255 based on the ratings given to related companies.

SONG has been the subject of a number of research analyst reports. Craig Hallum assumed coverage on Akazoo in a research note on Monday, October 7th. They issued a “buy” rating and a $10.00 price target for the company. UBS Group assumed coverage on Akazoo in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $12.00 price objective for the company. Macquarie assumed coverage on Akazoo in a research note on Thursday, September 12th. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Noble Financial restated a “buy” rating and issued a $12.00 price objective on shares of Akazoo in a research note on Thursday, November 28th.

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) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,500 shares of the company’s stock, valued at approximately $332,000. Owl Creek Asset Management L.P. owned about 0.11% of Akazoo as of its most recent SEC filing. Institutional investors and hedge funds own 5.93% of the company’s stock.

Akazoo stock traded up $0.15 during midday trading on Friday, reaching $5.74. The company’s stock had a trading volume of 37,300 shares, compared to its average volume of 65,585. The stock’s 50-day simple moving average is $5.77. Akazoo has a 52-week low of $4.44 and a 52-week high of $7.49.

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.

Further Reading: What is the Stochastic Momentum Index (SMI)?

Get a free copy of the Zacks research report on Akazoo (SONG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Akazoo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akazoo and related companies with MarketBeat.com's FREE daily email newsletter.