Liked the ResultsOpened a small position this morning. GLTA
Eight Capital’s Adhir Kadve raised his Playmaker Capital Corp. (PMKR-X) target to $1.10 from 90 cents with a “buy” rating, while Haywood Securities’ Gianlucca Tucci bumped his target to $1.20 from $1.10 with a “buy” rating. The average is $1.13.
“Playmaker reported a blowout Q4/F22, with revenue and adj. EBITDA handily surpassing consensus and our estimates,” said Mr. Kadve. “The strength was driven by seasonality and increased advertiser spending during the 2022 FIFA World Cup. While the increase in spend was temporary, we believe that the benefit to Playmaker will be longer lasting, as the company bolstered relationships with current customers and gained new customers, which we believe bodes well for future growth. With an uncertain macro backdrop impacting advertiser spending, Playmaker continues to show a level of resiliency due to its focus on the sports audience. The ongoing legalization of sports betting in the US and globally, continues to expand Playmaker’s TAM and with the Wedge acquisition providing key revenue growth and margin expansion opportunities, we continue to like Playmaker’s prospects through the balance of F23 and beyond.”