Tuesday, April 26, 2022
Motorsport Games (MSGM)
Rating Upgrade Based On Price Considerations
Motorsport Games, a Motorsport Network company, combines innovative and engaging video games with exciting esports competitions and content for racing fans and gamers around the globe. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), across PC, PlayStation, Xbox, Nintendo Switch and mobile. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. The company’s IPO was in January 2021, and it is headquartered in Miami, FL. For more information about Motorsport Games, visit www.motorsportgames.com.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Patrick McCann, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
NobleCon18 highlights. Dmitry Kozko, CEO, provided an optimistic tone as the company navigates the disappointing performance of NASCAR Ignition launch and prepares for the launch of several game franchises over the next year. He appeared to be sanguine about the firm’s capability to rebound given a favorable long-term, 10-year runway for its licenses. A replay of his presentation may be found here.
Roadmap still on track. The company plans to release new franchises in 2023 such as NASCAR (new mobile title), 24 Hours of Le Mans ’23, and INDYCAR ’23. Given disruptions to the company’s Moscow development team due to Russian sanctions, the timeline is favorable and appears to be on track …
This Company Sponsored 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.