Monday, August 12, 2024
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Initiating coverage with an Outperform rating. We are initiating coverage of GDEV, a global gaming company, with an Outperform rating and a $6 price target. Our favorable rating is based on an improved fundamental outlook and compelling stock valuation. After a post pandemic revenue slump as gaming activity returned to more normalized levels, the company now appears to be turning a corner towards revenue growth again. In our view, the story of GDEV’s improving fundamentals is under the radar, representing an opportunity for investors.
A leading player in the attractive gaming industry. GDEV is the largest independent, publicly traded gaming company that is profitable, generates cash flow, and has a solid balance sheet. The company’s revenues are diverse geographically, by platform, and by titles.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
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.