Winking Studios - KGI Securities 2024-04-29: Visualising The Future Of Gaming

Winking Studios - Visualising The Future Of Gaming

Winking Studios (SGX:WKS) | SGinvestors.ioWinking Studios (SGX:WKS)
  • We initiate an OUTPERFORM recommendation for Winking Studios (SGX:WKS) and a target price of S$0.34 based on a DCF valuation method and the assumption of the successful placement of 108mil new ordinary shares announced on 10 April 2024.

Company Background.

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  • With a steadfast vision, Winking Studios aspires to further its expansion endeavours, ultimately aiming to emerge as the preeminent global game art developer and production service provider.

Gaming industry growth.

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  • Today's game developers benefit from an array of platforms for game releases, including PC, mobile, PlayStation, and Nintendo Switch, enabling simultaneous launches to diversify revenue streams. Moreover, as player expectations for immersive gaming experiences continue to rise, developers face the challenge of delivering larger worlds and more impressive graphics, driving an upward trend in game development budgets.
  • The robust expansion of the gaming industry, fuelled by e-sports popularity and evolving gaming trends, will enable Winking Studios to capitalize on increased demand for its art outsourcing services across diverse gaming platforms, driving revenue growth and market prominence.

Exceeded expectations with robust performance growth in FY23.

Revenue growth of 19.5%

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Alyssa Tee KGI Securities Research | 2024-04-29

Price targets by other brokers at Winking Studios Target Prices.

Listing of research reports at Winking Studios Analyst Reports.

Relevant links:
Winking Studios Share Price History,
Winking Studios Announcements,
Winking Studios Dividends & Corporate Actions,
Winking Studios News Articles


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