Truist Securities Boosts NeoGames (NASDAQ:NGMS) Price Target to $53.00

NeoGames (NASDAQ:NGMS) had its price target raised by investment analysts at Truist Securities from $42.00 to $53.00 in a research report issued on Monday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. Truist Securities’ price objective would indicate a potential upside of 10.67% from the company’s previous close.

NGMS has been the subject of a number of other reports. Truist raised their target price on shares of NeoGames from $42.00 to $53.00 and gave the company a “buy” rating in a report on Monday. Zacks Investment Research lowered shares of NeoGames from a “buy” rating to a “hold” rating in a report on Friday, May 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $43.20.

Shares of NeoGames stock traded up $1.85 on Monday, hitting $47.89. 5,586 shares of the company traded hands, compared to its average volume of 148,179. NeoGames has a 52 week low of $18.67 and a 52 week high of $51.99. The company’s 50-day moving average price is $40.67.

NeoGames (NASDAQ:NGMS) last released its quarterly earnings data on Thursday, May 13th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $13.35 million for the quarter, compared to the consensus estimate of $12.25 million. Sell-side analysts expect that NeoGames will post 0.27 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NGMS. Federated Hermes Inc. purchased a new position in NeoGames during the fourth quarter worth $19,945,000. Park West Asset Management LLC purchased a new position in NeoGames during the fourth quarter worth $17,285,000. Oak Ridge Investments LLC purchased a new position in NeoGames during the first quarter worth $15,701,000. Parian Global Management LP purchased a new position in NeoGames during the fourth quarter worth $11,049,000. Finally, AWM Investment Company Inc. purchased a new position in NeoGames during the fourth quarter worth $10,447,000.

About NeoGames

NeoGames SA provides a suite of iLottery technology solutions worldwide. The company offers various technology platforms, a range of value-added services, and a game studio that provides a portfolio of draw based games and instant tickets through personal computers, smartphones, and handheld devices.

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