Super League Gaming Inc (SLGG) Gets a Buy Rating from Northland Securities


Northland Securities analyst Michael Latimore maintained a Buy rating on Super League Gaming Inc (SLGG) today and set a price target of $15. The company’s shares closed yesterday at $7.16.

Latimore said:

“We believe such events trigger brand sponsor payments to SLG and thus, this should be recognized in 2Q. Brand sponsor payments were the majority of revenue last year, and should continue to be this year. New PaaS revenue should build with customers such as Topgolf and ggCircuit in 2H. We continue to view our estimates as conservative. IMPORTANT DISCLOSURES AND ANALYST CERTIFICATION ON PAGE 2Company Description SLG sells a platform-as-a-service which enables, manages and broadcasts amateur esports tournaments. Valuation $15 is based on 5x FY21 revenue discounted back at 25%. Risks to the achievement of price target In addition to competition, we see the following risks to investors in SLG: Loss of ability to work with key game titles, or inability to get new licenses with key titles. Will use cash for the next two years in our model.”

According to TipRanks.com, Latimore is a 5-star analyst with an average return of 15.7% and a 59.5% success rate. Latimore covers the Technology sector, focusing on stocks such as Brightcove Inc, Everbridge Inc, and Veritone Inc.

Super League Gaming Inc has an analyst consensus of Strong Buy, with a price target consensus of $15.

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The company has a one-year high of $11.55 and a one-year low of $6.00. Currently, Super League Gaming Inc has an average volume of 134.2K.

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Super League Gaming, Inc. is an emerging growth company, which engages in the provision of an amateur E-sports community and cloud-based content platform. It offers theater gaming, cloud, and team gaming. The company was founded by John Miller, David Steigelfest, and Brett Morris on October 1, 2014 and is headquartered in Santa Monica, CA.

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