Movers and SHAKERS
Wednesday, February 5, 2020
Selective With Its Opportunities For Expansion
Akazoo is a global, on-demand music and audio streaming and media and AI technology company, founded in 2010, with a focus on emerging markets and a presence in 25 countries. Akazoo's premium service provides subscribers with unlimited online and offline high-quality music streaming access to a catalog of over 45 million songs on an ad-free basis. Akazoo uses patented AI for music recommendations and offers online and offline listening. Akazoo's free, ad-supported radio service consists of over 80,000 stations and exists as separate services and application. As consumers across the globe continue to shift their media consumption to mobile devices, Akazoo is equipped with a world-class mobile application and user experience which works seamlessly across a multitude of mobile devices and provides a high-quality user experience across a range of mobile networks from 2g to 4g LTE and soon 5g.
Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Shares significantly off of recent highs. We do not believe that there is a fundamental reason for the recent weakness. The SONG shares are down 39% from its recent high of $6.74 in September, 2019.
Recent article highlights competition in India. Akazoo is not in India given that management believed that it would not be able to monetize the subscribers and that India would be unprofitable. The company chooses markets that it believes will...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.