On April 27th, HC Wainwright & Co. initiated coverage on Esports Entertainment Group stock with a buy rating. The organization also announced a target price of $20.
“HC Wainwright analyst Scott Buck noted six key investment catalysts for this stock,” writes Benzinga‘s Randy Elias. “1. Complementary business segments drive meaningful organic growth opportunity. 2. Roll-up strategy to accelerate revenue through customer acquisition, new products, and new geographies. 3. U.S. expansion supported by favorable changes to U.S. regulatory environment. 4. Recent partnership agreements provide pool of potential customers and drive potential new gaming center opportunities. 5. Balance sheet strength supports near term expansion goals. 6. Attractive valuation versus both esports and gaming peers.”
Esports Entertainment Group, Inc. is an esports and online gambling company. The business operates several entities in the realm of esports entertainment and infrastructure, esports wagering, and iGaming. The Company currently has offices in New Jersey, the UK, and Malta.
Esports Entertainment Group currently trades on the NASDAQ under the ticker symbol “GMBL”. As of 11:00 AM EST on April 27th, the stock is currently valued at $12.93