DoubleDown Interactive
This top gaming company could be a solid takeover target. DoubleDown Interactive Co. Ltd. (NASDAQ: DDI) engages in the development and publishing of web-based casual games and mobile applications in South Korea. The company offers DoubleDown Casino, DoubleDown Classic, DoubleDown Fort Knox and Undead World: Hero Survival games. Its games are primarily distributed, marketed and promoted through third-party platform providers.
The CEO recently noted, after solid results for the quarter were posted, that DoubleDown Interactive continues to benefit from strong payer engagement in the company’s flagship social casino game, DoubleDown Casino. The company intends to continue to focus on growing player monetization through the development and introduction of new casino-wide features that provide players with great entertainment and excellent value. The company is also deploying capital to expand its business into new gaming categories, such as iGaming, through the previously announced acquisition of SuprNation, which is expected to close later this year.
Wedbush’s target price is $12.25, but the consensus target is even higher at $17.06. The stock traded on Friday near $8.30.
Peloton Interactive
This cycling and exercise platform was a huge pandemic winner but has been hammered this past year. Peloton Interactive Inc. (NASDAQ: PTON) operates interactive fitness platforms in North America and internationally. The company offers connected fitness products with touchscreens that stream live and on-demand classes under the Peloton Bike, Peloton Bike+, Peloton Tread and Peloton Tread+ names.
The company also provides connected fitness subscriptions for various household users and access to various live and on-demand classes. Its Peloton Digital app for connected fitness subscribers provides access to its classes. As of June 30, 2022, it had approximately 6.9 million members. The company markets and sells its interactive fitness products directly through its retail showrooms and online.
Peloton announced a partnership with Dick’s Sporting Goods to sell its exercise bikes through the retail giant. Peloton’s exercise hardware (minus its new rowing machine) were to be available for sale at 100 Dick’s Sporting Goods locations in time for the holidays.
The $16 Bank of America Securities target price compares with a $17.07 consensus target. Peloton Interactive stock traded at $6.80 on Friday.
Rackspace Technology
This company returned to the publicly traded markets a few years ago after a stint in private equity land. Rackspace Technology Inc. (NYSE: RXT) operates as a multicloud technology services company worldwide.
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