Ascendiant Capital Defends Majesco Entertainment (COOL); Solid Zumba Demand; Investments in Social Gaming
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Get Alerts COOL Hot Sheet
Price: $0.69 -1.43%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade COOL Now!
Ascendiant Capital maintains a 'Buy' on Majesco Entertainment (NASDAQ: COOL) price target of $2.00 (from $3.00)
Analyst, Edward Woo, said, "Despite weaker outlook, we remain positive: We believe that guidance for FY12 is achievable. However, we acknowledge that video game industry software sales have been weak throughout 2012 (down ~29% YTD in the U.S.), and are likely to remain so through the holidays as we are entering the end of the current console cycle. We have modeled modest unit assumptions for Majesco’s upcoming games (an average of 120,000 units per title in Q4), which we believe is conservative."
FY12 EPS estimate lowered from $0.30 to $0.21. FY12 revenues cut from $138M to $130M. FY13 EPS estimate cut from $0.40 to $0.30 and FY13 revs from $145M to $135M.
For an analyst ratings summary and ratings history on Majesco Entertainment click here. For more ratings news on Majesco Entertainment click here.
Shares of Majesco Entertainment closed at $1.74 yesterday, with a 52 week range of $1.64-$3.63.
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Analyst, Edward Woo, said, "Despite weaker outlook, we remain positive: We believe that guidance for FY12 is achievable. However, we acknowledge that video game industry software sales have been weak throughout 2012 (down ~29% YTD in the U.S.), and are likely to remain so through the holidays as we are entering the end of the current console cycle. We have modeled modest unit assumptions for Majesco’s upcoming games (an average of 120,000 units per title in Q4), which we believe is conservative."
FY12 EPS estimate lowered from $0.30 to $0.21. FY12 revenues cut from $138M to $130M. FY13 EPS estimate cut from $0.40 to $0.30 and FY13 revs from $145M to $135M.
For an analyst ratings summary and ratings history on Majesco Entertainment click here. For more ratings news on Majesco Entertainment click here.
Shares of Majesco Entertainment closed at $1.74 yesterday, with a 52 week range of $1.64-$3.63.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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