The Top 3 Gaming Stocks to Buy Now: Summer 2024
Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. Last month, Microsoft posted an excellent first quarter for fiscal 2022, beating analyst expectations. Hardware revenue gained 166%, and the demand for Xbox Series X and Series S consoles is not slowing down anytime soon. But some might not realize Microsoft has a powerful gaming business as well, which it channels through the Xbox One console.
Video Game Stocks: How to Invest in Gaming
The conglomerate not only releases its own games, but it has ownership stakes in many popular video game companies globally as well. Plus, game development studios and mobile companies can also help limit your risk. Activision Blizzard was formed in 2008 by the merger of Activision, one of the largest console video game publishers, and Blizzard, one of largest PC video game publishers. The combined firm remains one of the world’s largest video game publishers. Activision’s impressive franchise portfolio includes World of Warcraft, which boasts more than $8 billion of lifetime sales, and Call of Duty, which has sold over 175 million copies across 14 titles over 12 years. People love all kinds of entertainment, and video games offer a broad range of experiences that can be uniquely compelling.
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- Zynga (ZNGA, $10.21) is a social gaming company that offers free-to-play games with in-game purchases and ads.
- One of the best-known and best-established brands in gaming, Nintendo has come under fire lately due to lackluster sales and new-release delays, but long-term investors still believe in a turnaround.
- Once you’ve decided on a stock, you’ll need a brokerage account to facilitate the transaction.
- Nvidia innovates the powerful graphics cards that are necessary for the best video game performance.
- The video game sector is booming with growth anticipated for years to come as new technology challenges the industry to develop further.
This list includes stocks of companies who get a significant percentage of their revenue from video games or gaming-related products. In Oct. 2023, Light & Wonder completed its acquisition of SciPlay Corporation, which is famous for its casino-like online games including Jackpot Party and various online slot games. Eight analysts following the company have a consensus “buy” rating on the stock.
Price Performance
The limited-edition snacks are available at supermarkets from today in both 45g grab bags for £1 each and multipacks of five 25g bags for £1.65. The number of orders placed over the period increased by 2% to a total of 147 million. “These really are worthy of strong consideration now,” Simon Bridland, director at the mortgage broker Release Freedom, told Newspage. video game company stocks April Mortgages has announced it is cutting interest rates on its range of fixed rate mortgages. Currently, the world’s largest cruise ship is Royal Caribbean Group’s Icon of the Seas, which is 1,197ft- long and boasts 20 decks. The campaign group Transport & Environment (T&E) found the world’s biggest cruise ships were now twice as big as they were in 2000.
Overview of the Video Game Industry
NetEase stock is 38% undervalued relative to our $158 fair value estimate. Wedbush’s Michael Pachter has an Outperform recommendation on the stock with a 12-month price target of $15 (47% upside). Indeed, Wedbush views it as one of the best video game stocks you can by, as signaled by ZNGA’s placement on the firm’s “Best Ideas” list. UBS analyst Jerry Liu said Tencent’s existing blockbuster games have continued to “perform well” and gamer engagement has remained despite folks returning to work and school.
The Twitch-wide epidemic led to a walkout called #ADayOffTwitch, where streamers did not use the platform for a day in protest. Hence, EA stock looks like a great one if you are looking to make excellent year-end returns. Its Q2 sales figure of $1.8 billion compares very favorably with $1.2 billion a year ago.
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Please disable your adblocker to enjoy the optimal web experience and access the quality content you appreciate from GOBankingRates. Sign up for our daily newsletter for the latest financial news and trending topics. All of the numbers in the table below are based on data collected on May 21, 2024, from Nasdaq and Yahoo.
It’s the second-largest video game company by revenue and maintains a leading position in the sports subgenre of gaming. Comparevideo game stocks and their fundamentals, performance, price, and technicals. Use this free stock comparison tool to evaluate companies based on their analyst ratings, book value, debt, dividend, MarketRank, news sentiment, price performance, profitability, and more. Enter https://investmentsanalysis.info/ up to ten stock symbols separated by a comma or space (ex. BAC, JPM, WFC, C, GS). The video game industry generates more revenue every year than movies and music combined, and provides ample opportunities for the leaders to deliver shareholder returns. Moreover, as Microsoft just demonstrated, top game companies could become acquisition targets, providing an extra catalyst for investors.
Additionally, we expect that the firm will be able to increase penetration in non-US markets. Roblox operates an online video game platform that lets gamers create, develop, and monetize games for other players. After a quarter of weakening player engagement, we lowered our fair value estimate of Roblox to $50 from $60 per share. Stifel analyst Drew Crum (Buy) recently raised his price target on the stock by a dollar per share to $14 (37% upside) after the company’s better-than-expected quarterly results. He noted contributions from Rollic and Peak (Toon Blast), a Turkish mobile card game company whose acquisition closed in June 2020.
That will continue for the foreseeable future because game publishers have been betting big on virtual reality and next-generation consoles. The tailwinds from these technologies are likely to bring more success for all game developers, including EA. VR games should continue gaining mainstream traction, thanks in part to its ability to provide an immersive experience. Zynga (ZNGA, $10.21) is a social gaming company that offers free-to-play games with in-game purchases and ads. It developed solid franchises such as Farmville and Words With Friends, as well as titles based on the Game of Thrones and Harry Potter franchises, and it serves 134 million monthly active users. It’s about to get even bigger, announcing in February that it would acquire Glu Mobile for $2.4 billion.