Perfect World Co. Stock Rating Reaffirmed by Pacific Crest (PWRD)
Perfect World Co. (NASDAQ:PWRD)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Pacific Crest in a research note issued to investors on Tuesday. They currently have a $24.00 price objective on the stock, down from their previous price objective of $28.00. Pacific Crest’s price objective points to a potential upside of 30.86% from the stock’s previous close.
The analysts wrote, “On a constant-currency basis, Q1 revenue of 891 million RMB was better than our estimate of 864 million RMB. After currency fluctuations, revenue of $143.3 was relatively in line with our estimate of $142.7 million. Mobile games contributed over 15% of total revenue in Q1. However, due to lower gross margin on mobile games, overall gross margin declined 150 basis points q/q versus Q4. We expect a sharp ramp of mobile game revenue in Q3 and Q4 this year and anticipate further gross-margin declines. EPS of $0.64 was better than our estimate of $0.57.”
PWRD has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Perfect World Co. from a “hold” rating to a “buy” rating in a research note on Thursday, March 27th. Separately, analysts at Credit Suisse initiated coverage on shares of Perfect World Co. in a research note on Thursday, March 13th. They set an “outperform” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of Perfect World Co. from $25.00 to $27.00 in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $20.06.
Shares of Perfect World Co. (NASDAQ:PWRD) opened at 18.34 on Tuesday. Perfect World Co. has a one year low of $12.00 and a one year high of $26.25. The stock has a 50-day moving average of $18.92 and a 200-day moving average of $19.46. The company has a market cap of $905.9 million and a price-to-earnings ratio of 10.43.
Perfect World Co. (NASDAQ:PWRD) last released its earnings data on Monday, May 19th. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.53 by $0.11. The company had revenue of $143.30 million for the quarter, compared to the consensus estimate of $140.70 million. During the same quarter last year, the company posted $0.49 earnings per share. Perfect World Co.’s revenue was up 44.2% compared to the same quarter last year. On average, analysts predict that Perfect World Co. will post $1.96 earnings per share for the current fiscal year.
Perfect World Co, Ltd. is an online game developer and operator in People’s Republic of China. The Company primarily develops online games based on its game engines and game development platforms.
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