from Wall Street analysts<\/a>, SciPlay faltered for months, save for a late 2019-early 2020 rally that was cut short by the COVID-19 market swoon. Since March, however, the stock is up 169.42 percent, as analysts and investors fawn over companies with exposure to the booming online casino industry, even touting social offerings that don’t require real money.<\/span><\/strong><\/p>\n<\/div>\nSciPlay’s \u201c2Q Social Casino revenues grew 33% year-over-year and 32% sequentially to $157.6m, representing a meaningful acceleration from 1Q growth rates (+1% yoy, +6% seq),\u201d said Beynon.<\/span><\/p>\nImportant to investors is that the company’s June quarter growth was well-diversified across its product portfolio.<\/span><\/p>\n\u201cSciPlay delivered strong growth across all of its titles, with particularly robust performance from Jackpot Party, Gold Fish Casino, Quick Hits, and 88 Fortunes. Daily Average User\u2019s (DAU) grew +4% yoy to 2.8m, while average revenue per daily average user (ARPDAU) grew +25% yoy to $0.60,\u201d notes the Macquarie analyst.<\/span><\/p>\nBig Forecasts<\/span><\/h2>\nAt $18, Beynon’s price estimate on SciPlay implies an upside of 16 percent from where the stock currently trades and is nearly 20 percent higher than the Wall Street consensus.<\/span><\/p>\nThe analyst raised his 2020 revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) forecasts on the name by seven percent and 10 percent, respectively.<\/span><\/p>\nNoting that SciPlay trades at 10.4x his 2021 EBITDA projection, Beynon points out the stock sports a roughly 40 percent discount to the online gaming peer group, which is notable because many of these names are considered richly valued.<\/span><\/p>\nIncluding Beynon, 13 analysts cover SciPlay, with nine assigning the equivalents of \u201cstrong buy\u201d or \u201cbuy\u201d ratings to the stock<\/strong>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Social casinos delivered epic revenue growth in the second quarter, helping shares of SciPlay Corp. (NASDAQ:SCPL) more than double off the March lows. At least one analyst covering the company sees more upside ahead. Macquarie gaming and leisure analyst Chad Beynon recently reiterated an \u201coutperform\u201d rating on SciPlay stock, while lifting his price target on […]<\/p>\n","protected":false},"author":46,"featured_media":142504,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,22988],"tags":[],"acf":[],"yoast_head":"\n
SciPlay Stock Is on Fire, Analyst Sees More Gains Ahead<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n