Light & Wonder (NASDAQ:LNW) Price Target Raised to $122.00

Light & Wonder (NASDAQ:LNW - Free Report) had its target price boosted by Macquarie from $120.00 to $122.00 in a report published on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus upped their price target on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Mizuho upped their price target on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a research note on Thursday, May 8th. Benchmark dropped their price target on Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Truist Financial lowered their price objective on Light & Wonder from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup raised Light & Wonder from a "neutral" rating to a "buy" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.00.

Light & Wonder Trading Up 2.5%

Shares of NASDAQ LNW traded up $2.08 during trading on Monday, reaching $84.22. The company had a trading volume of 830,622 shares, compared to its average volume of 833,881. The company's fifty day moving average price is $85.02 and its 200-day moving average price is $90.66. Light & Wonder has a 12 month low of $75.46 and a 12 month high of $115.00. The stock has a market cap of $7.11 billion, a P/E ratio of 26.16, a PEG ratio of 0.35 and a beta of 1.23. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49.

Light & Wonder (NASDAQ:LNW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). Light & Wonder had a return on equity of 49.91% and a net margin of 9.30%. The firm had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. During the same period last year, the company posted $0.88 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts expect that Light & Wonder will post 4.3 earnings per share for the current year.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Light & Wonder by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 239,215 shares of the company's stock valued at $20,718,000 after acquiring an additional 3,804 shares in the last quarter. Optimize Financial Inc grew its holdings in shares of Light & Wonder by 33.6% in the first quarter. Optimize Financial Inc now owns 6,721 shares of the company's stock valued at $582,000 after acquiring an additional 1,689 shares in the last quarter. United Services Automobile Association bought a new position in shares of Light & Wonder in the first quarter valued at approximately $516,000. Goldman Sachs Group Inc. grew its holdings in shares of Light & Wonder by 509.9% in the first quarter. Goldman Sachs Group Inc. now owns 260,259 shares of the company's stock valued at $22,541,000 after acquiring an additional 217,589 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Light & Wonder in the first quarter valued at approximately $320,000. 88.08% of the stock is owned by institutional investors.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.