In a report released yesterday, Robert Young from Canaccord Genuity maintained a Buy rating on Enthusiast Gaming Holdings (ENGMF), with a price target of C$7.50. The company’s shares closed last Friday at $4.25, close to its 52-week high of $4.45.
According to TipRanks.com, Young is a 5-star analyst with an average return of 30.3% and a 68.9% success rate. Young covers the Technology sector, focusing on stocks such as Celestica, CGI Group, and Descartes.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Enthusiast Gaming Holdings with a $4.71 average price target, a 5.8% upside from current levels. In a report issued on January 8, Colliers Securities also initiated coverage with a Buy rating on the stock with a C$6.50 price target.
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Based on Enthusiast Gaming Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $16.33 million and GAAP net loss of $8.1 million. In comparison, last year the company earned revenue of $3.01 million and had a GAAP net loss of $16.16 million.
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Enthusiast Gaming Holdings Inc is a gaming company building authentic lifestyle gamers. It has an online network of over 80, owned and affiliated, gaming related websites and a network of 900 YouTube channels reaching 150 million visitors. It also owns and operates Canada’s video-gaming expo, Enthusiast Gaming Live Expo “EGLX”. Its products and services fall into three principal segments: content, advertising and events.
