A Unique Player Emerges
PodcastOne Inc PODC is solidifying its position in the market with rising shares early this Monday.
Analyst Optimism
According to Roth Capital Partners, PodcastOne holds the prestigious position of being not just a top-10 U.S. podcast network but also the sole pure-play U.S.-listed stock in the podcast industry.
Analyst Outlook
The PodcastOne Analyst: Sean McGowan confidently initiated coverage of PodcastOne with a Buy rating and set a price target of $4.50.
Growth Projections
The PodcastOne Thesis: McGowan forecasts a robust annual revenue growth ranging between 23% and 25% over the upcoming years. Additionally, he anticipates the company’s adjusted EBITDA to lean towards the positive in F2024 and potentially hit $6 million by fiscal 2027.
View other analyst stock ratings for comparison.
Position of Strength
Podcasting has been on a meteoric rise, with ad revenues experiencing a jaw-dropping 47% CAGR from 2015 to 2023 according to the Internet Advertising Bureau. Consumer fascination and consumption of podcasts show no sign of waning.
PodcastOne’s dominance in the industry, being the only publicly-traded podcast network, provides the company with a valuable currency for talent acquisition and M&A activities, McGowan elaborated.
Fueling Growth
The company is poised for organic growth through the introduction of new podcasts and increased ad revenues. Strategic acquisitions of existing podcast shows and networks will further bolster PodcastOne’s trajectory, as outlined by the analyst.
PODC Performance
PODC Price Action: The market responded positively, with PodcastOne shares climbing by 3.8% to $1.87 at the time of this publication on Monday.
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