Why LiveXLive Stock Is Soaring Today

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Shares of LiveXLive Media (NASDAQ: LIVX) are soaring today, up by 9% as of 12:28 p.m. EDT, after a JMP Securities analyst raised his price target on the stock from $4 per share to $7 per share. That target is 48% above where the music streaming platform closed on Friday.

With the COVID-19 pandemic limiting participation at live concerts, a media stock like LiveXLive that broadcasts concerts via audio and video has proven to be a popular alternative.

Image source: Getty Images.

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