PodcastOne 'Enjoys A Unique Position In The Industry,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
PodcastOne Inc (NASDAQ:PODC) saw its shares rise after Roth Capital Partners initiated coverage with a Buy rating and a $4.50 price target. The company is highlighted for its unique position as the only pure-play podcast stock in the U.S., expected to see 23%-25% annual revenue growth over the next several years. Adjusted EBITDA is projected to be positive by fiscal 2024, reaching approximately $6 million by 2027. Growth is anticipated from new podcast launches, increased ad revenue, and acquisitions.
February 26, 2024 | 6:03 pm
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POSITIVE IMPACT
PodcastOne Inc is recognized for its unique market position and potential for significant revenue growth, with a positive outlook from analysts.
The initiation of coverage by Roth Capital Partners with a Buy rating and a $4.50 price target positively impacts PODC's stock. The company's unique position as the only pure-play podcast stock in the U.S. and its expected revenue growth of 23%-25% annually over the next several years are key factors. The projected positive adjusted EBITDA by fiscal 2024 and the potential for acquisitions further support the bullish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100