{"id":317565,"date":"2024-04-16T22:16:40","date_gmt":"2024-04-17T03:16:40","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=317565"},"modified":"2024-04-17T09:58:00","modified_gmt":"2024-04-17T14:58:00","slug":"inspired-entertainment-tipped-for-upside-by-truist-securities","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/","title":{"rendered":"Inspired Entertainment Could Be Inspired Rebound Story, Says Analyst"},"content":{"rendered":"

Hampered by a regulatory probe into its 2023 earnings restatements, Inspired Entertainment (NASDAQ: INSE) has seen its shares decline 21.7% over the past year, but at least one analyst sees opportunity with the supplier of video gaming terminals (VGT) and software.<\/p>\n

\"Inspired\"
The Inspired Entertainment corporate logo. Truist Securities believes the stock can rally. (Image: PR Newswire)<\/figcaption><\/figure>\n

In a new report to clients, Truist Securities analyst Barry Jonas reiterated a \u201cbuy\u201d rating and a $13 price target on Inspired, implying upside of 41.3% from the Tuesday close. Jonas noted the Securities and Exchange Commission (SEC) investigation into the gaming company\u2019s restatement of its 2023 earnings was \u201cpresumably to verify the matter has been resolved appropriately.\u201d Inspired highlighted the restatement and related costs in its annual report filed with the SEC on Monday.<\/p>\n

\n

Jonas said Inspired\u2019s \u201cvaluation looks increasingly attractive\u201d while noting management sees strong growth in the back half of this year buoyed by more iGaming offerings<\/a>.<\/p>\n<\/div>\n

Inspired also has room to rapidly accelerate growth in the interactive gaming arena by way of its strong content library. While the number of states permitting internet casinos remains at six, operators in those jurisdictions are using fresh content to gain market share, potentially auguring well for Inspired.<\/p>\n

Inspired’s Interactive Division Primed for Growth<\/h2>\n

After posting fourth-quarter revenue of $78 million, which beat sell-side forecasts, and generating free cash flow of $27 million — an impressive sum for a company with a market capitalization of $237.81 million — Inspired appears poised to build on successes in digital gaming.<\/p>\n

\n

Citing management, Jonas said \u201cmomentum in interactive has continued into the new year; last week was the highest revenue week in company history.\u201d Inspired has a strong backlog of internet casino equipment orders and could be supported by expected growth in Brazil<\/a> and other parts of Latin America.<\/p>\n<\/div>\n

Jonas also pointed out that Inspired management \u201cnoted Virtuals were at an inflection point and growth could be supported from new-product momentum,\u201d adding that the executives see the company generating $105 million in free cash flow this year.<\/p>\n

iLottery Adds to Inspired Thesis<\/h2>\n

Momentum in the internet lottery space could also be additive to the Inspired Entertainment investment thesis. Online lotteries aren\u2019t grabbing attention on par with internet casinos or sports betting but some analysts see massive opportunity<\/a> with internet lotteries, noting the market could eventually rival that of online sports wagering.<\/p>\n

\n

Lottery assets \u2014 interactive and traditional \u2014 are profitable and cash generators, which add to the allure of the Inspired story. Other catalysts include Inspired bolstering its balance sheet, reducing leverage, and the firm\u2019s potential participation in industry consolidation in 2024. Not only are the shares inexpensive, but Inspired is generating free cash flow \u2014 something few of its rivals are doing with regularity.<\/p>\n<\/div>\n

Inspired also sports a decent balance sheet with $13 million available with which to repurchase its stock, something the company halted amid the earnings restatements, and $40 million in cash on hand.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hampered by a regulatory probe into its 2023 earnings restatements, Inspired Entertainment (NASDAQ: INSE) has seen its shares decline 21.7% over the past year, but at least one analyst sees opportunity with the supplier of video gaming terminals (VGT) and software. In a new report to clients, Truist Securities analyst Barry Jonas reiterated a \u201cbuy\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":317566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,19,13699],"tags":[81903,81871,13701],"acf":[],"yoast_head":"\nInspired Entertainment Tipped For Upside By Truist Securities<\/title>\n<meta name=\"description\" content=\"Inspired Entertainment Could Be Inspired Rebound Story, Says Analyst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inspired Entertainment Tipped For Upside By Truist Securities\" \/>\n<meta property=\"og:description\" content=\"Inspired Entertainment Could Be Inspired Rebound Story, Says Analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/\" \/>\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=\"2024-04-17T03:16:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-17T14:58:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/04\/INSE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/\",\"url\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/\",\"name\":\"Inspired Entertainment Tipped For Upside By Truist Securities\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/04\/INSE.jpg\",\"datePublished\":\"2024-04-17T03:16:40+00:00\",\"dateModified\":\"2024-04-17T14:58:00+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Inspired Entertainment Could Be Inspired Rebound Story, Says Analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/inspired-entertainment-tipped-for-upside-by-truist-securities\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/04\/INSE.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/04\/INSE.jpg\",\"width\":800,\"height\":400,\"caption\":\"The Inspired Entertainment corporate logo. 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