{"id":173753,"date":"2021-05-15T14:49:56","date_gmt":"2021-05-15T21:49:56","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=173753"},"modified":"2021-05-16T16:03:02","modified_gmt":"2021-05-16T23:03:02","slug":"neogames-stock-already-hot-has-more-upside-potential","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/","title":{"rendered":"NeoGames Stock Winning Ticket for iLottery Upside"},"content":{"rendered":"

NeoGames (NASDAQ:NGMS) stock soared Friday after the provider of internet lottery services reported first-quarter revenue that topped Wall Street forecasts while upping its full-year sales outlook.<\/p>\n

\"NeoGames
NeoGames stock shown at the Nasdaq market site last year. An analyst sees reasons to own the name. (Image: Twitter)<\/figcaption><\/figure>\n

Yesterday, shares of the gaming firm surged almost 10 percent on above-average volume. That’s after the Israeli company reported net revenue of $21.6 million for the January through March period, beating the consensus estimate of $15.6 million.<\/p>\n

Adding to the ebullience for the stock, NeoGames raised 2021 revenue guidance<\/a> for the second time this year. The company now expects sales of $73 million to $77 million, up from a prior estimate of $65 million to $69 million.<\/p>\n

We think there’s some degree of conservatism relating to stimulus and stay-at-home tailwinds tapering as the vaccine rollout progresses,\u201d said Stifel analyst Steven Wieczynski in a note to clients Friday.<\/p><\/blockquote>\n

He rates NeoGames a \u201cbuy,\u201d with a $54 price target, up from $53. That new projection implies upside of 17.3 percent from the May 14 close.<\/p>\n

NeoGames Stock Overlooked Gaming Idea<\/h2>\n

Relative to operators in the online casinos and sports wagering arenas, NeoGames leads a nearly anonymous existence, because iLotteries aren’t yet generating buzz on par with those segments.<\/p>\n

\n

However, some analysts see massive opportunity<\/a> with internet lotteries, noting that market could eventually rival that of online sports betting. Quietly, NeoGames stock is reflecting growth in an emerging gaming segment, as the shares are up 21.19 percent year-to-date. That’s a far better showing than what’s offered by any of the big-name, pure play iGaming and online sportsbook equities to this point in 2021.<\/p>\n<\/div>\n

Like operators in the internet casinos and sports betting spaces, NeoGames is a play on broadening legalization of its underlying business model — something that’s happening, though without much fanfare. The company is live in Michigan, New Hampshire, North Carolina, Virginia and the Canadian province of Alberta, among other international markets.<\/p>\n

\u201cIn addition to the broad market strength we’ve highlighted, management called out accelerating top-line growth rates in Virginia, with jackpot-related DBG demand converting over into instants play and accelerating the ongoing ramp trajectory,\u201d said Wieczynski. \u201cManagement also highlighted their recently launched Alberta offering, which continues to outpace their expectations with further opportunities to broaden the product offering (e.g. draw games).\u201d<\/strong><\/p>\n

Growth Ahead for NeoGames<\/h2>\n

NeoGames’ roster of states currently allowing iLottery is nearly equivalent to the number permitting online casinos<\/a>, indicating there’s growth to be had as states continue examining new revenue sources.<\/p>\n

Reflecting that opportunity set, investors bid NeoGames stock higher by more than 24 percent over the past month, while iGaming and sportsbook stocks are being drubbed over the same period.<\/p>\n

Some of the expected top line growth at NeoGames should happen soon, as Stifel’s Wieczynski boosted his 2021 through 2023 revenue estimates by 12 percent, three percent, and one percent, respectively.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

NeoGames (NASDAQ:NGMS) stock soared Friday after the provider of internet lottery services reported first-quarter revenue that topped Wall Street forecasts while upping its full-year sales outlook. Yesterday, shares of the gaming firm surged almost 10 percent on above-average volume. That’s after the Israeli company reported net revenue of $21.6 million for the January through March […]<\/p>\n","protected":false},"author":46,"featured_media":173754,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,13699],"tags":[],"acf":[],"yoast_head":"\nNeoGames Stock Already Hot, Has More Upside Potential<\/title>\n<meta name=\"description\" content=\"NeoGames stock is already sizzling, but with iLottery taking off, more upside could be on the way, says analyst.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NeoGames Stock Already Hot, Has More Upside Potential\" \/>\n<meta property=\"og:description\" content=\"NeoGames stock is already sizzling, but with iLottery taking off, more upside could be on the way, says analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-15T21:49:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-16T23:03:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/ngms.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/\",\"url\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/\",\"name\":\"NeoGames Stock Already Hot, Has More Upside Potential\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/ngms.jpg\",\"datePublished\":\"2021-05-15T21:49:56+00:00\",\"dateModified\":\"2021-05-16T23:03:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"NeoGames stock is already sizzling, but with iLottery taking off, more upside could be on the way, says analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/neogames-stock-already-hot-has-more-upside-potential\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/ngms.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/05\/ngms.jpg\",\"width\":1200,\"height\":800,\"caption\":\"NeoGames stock shown at the Nasdaq market site last year. 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