Stock to Watch: Enthusiast Gaming Holdings Inc. (TSXV:EGLX)

Enthusiast Gaming

Analysts across the board are offering very positive recommendations to Enthusiast Gaming Holdings Inc. (TSXV:EGLX), a digital media company that is developing the world’s largest network of communities for gamers and esports fans with an online network of more than 85 gaming platforms and 900 YouTube channels.

Thanks to several sizable mergers and acquisitions in the last few months, Enthusiast Gaming Holdings Inc. (TSXV:EGLX)  has established itself as an analyst favorite, garnering nine BUY recommendations.

According to MarketBeat, Enthusiast Gaming Holdings Inc. (TSXV:EGLX) has been given an average price target of $3.60 CAD which represents a possible upside of 78.22%.

On October 23, 2019, Enthusiast Gaming Holdings Inc. (TSXV:EGLX)  share price was up 2.54% at $2.02 CAD with a trading volume of 165,703. The company has a market cap of $146.98 million with 72,047,574 shares issued.

Investing.com

Enthusiast Gaming Holdings Inc. (TSXV:EGLX) has received a solid BUY recommendation from Investing.com’s Weekly Technical Analysis summary, with an impressive 10 Moving Average indicators suggesting “BUY” and 6 Technical Indicators suggesting a “STRONG BUY.”

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EGLX Consensus Estimates

Tradingview.com

Enthusiast Gaming Holdings Inc. (TSXV:EGLX) currently has a “BUY” recommendation from TradingView’s technical analysis, which takes into account numerous indicators to give an overall assessment of a company’s stock price and its direction. According to the moving averages, Enthusiast Gaming Holdings Inc. (TSXV:EGLX) is a “BUY.”

 

MorningStar.com

Enthusiast Gaming Holdings Inc. (TSXV:EGLX) has also received a “Fair Value” rating from MorningStar.

According to MorningStar’s value assessment, Enthusiast Gaming Holdings Inc. (TSXV:EGLX) is undervalued and trading at a discount of 49% based on its closing price on October 22, 2019, which was $1.97 CAD. Based on MorningStar’s analysis, a fair value for Enthusiast Gaming Holdings Inc. (TSXV:EGLX) would be $3.86 CAD.

According to MorningStar, Enthusiast Gaming Holdings Inc. (TSXV:EGLX) has a fair value of $3.86 CAD per share as of October 22, 2019, with a three-star rating. Their assessment represents a 49% discount from the company’s close price that day of $1.97 CAD.

Overall the sentiment towards Enthusiast Gaming Holdings Inc. (TSXV:EGLX) is very positive, with several BUY ratings and a high price target.

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