In this week’s analysis: B2B casino solutions!
In this week’s analysis, Aksjeanalyser.com takes a closer look at an exciting company on the Stockholm Stock Exchange:
Evolution AB (Nasdaq Stockholm ticker: EVO)
Aksjeanalyser.com believes the Evolution stock could rise to between SEK 1,400 and 1,600 over the next 12 months. This represents a potential doubling from the current price of SEK 773.
Read more below in the technical analysis of the Evolution stock in this Week’s Analysis.
About Evolution AB
(Nasdaq Stockholm ticker: EVO)
Evolution AB is engaged in the development, production, marketing, and licensing of B2B casino solutions for gaming operators. They offer live casino studios, land-based live casinos, mobile live casinos, and live casinos for TV. The company was founded by Richard Hadida, Jens von Bahr, and Fredrik Osterberg in 2006 and is headquartered in Stockholm, Sweden.
The company currently has a market capitalization of 14.3 billion EUR.
For more information about the company, visit their website here.
Technical Analysis of Evolution AB
(Nasdaq Stockholm ticker: EVO)
Evolution’s stock reached its highest point in 2021 at around SEK 1,700, while it is currently trading at around SEK 773.
Several positive technical signals have recently emerged for the Evolution stock.
The stock has broken out of its long-term downtrend, and it has also broken above both the 50-day and 200-day moving averages.
Furthermore, the 50-day moving average has crossed above the 200-day moving average, which is known as the “Golden Cross signal.”
This helps confirm that both the short-term and long-term trends for Evolution stock have shifted from negative to positive.
The stock has now also broken above a technical resistance level around SEK 750, and this level is now the first technical support level for the stock.
An uptrend has been established for the stock, and further gains are now being signaled within this uptrend.
The BEST model in Vikingen also indicates a buy signal for the Evolution stock. This popular and effective technical analysis model was developed by Peter Östevik. He completed the BEST model around 2019, drawing on 30 years of experience with technical analysis and Vikingen Financial Software.
Based on this overall very positive technical picture presented by Evolution, Aksjeanalyser.com considers the Evolution stock a very interesting buy candidate at current price levels.
Aksjeanalyser.com estimates the stock’s potential to be around SEK 1,400–1,600 over the next 12 months.
The only thing that could potentially change the stock’s currently positive technical picture would be if the stock were to break out of the uptrend and fall below the 50-day and 200-day moving averages. In other words, if the stock were to fall below the SEK 650 level.
News about Evolution
ABG upgrades Evolution to “Buy” and sees signs that growth may pick up again
Source: Aug. 17, 10:38 a.m. ∙ Finwire
ABG Sundal Collier has raised its recommendation for the live casino company Evolution to “Buy” from “Hold” and its price target to 1,000 kronor from 675 kronor, as reported by Finwire this morning.
The investment bank sees signs that growth may pick up again after six quarters without revenue growth, measured in euros, according to EFN, which has reviewed the analysis.
Strong player growth and more favorable comparative figures are expected to gradually have an impact on revenue.
Analysts believe that a return to growth of over 5 percent could lead to a higher P/E multiple, after weak growth had previously put downward pressure on the valuation. Major shareholder Kenneth Dart’s bid of 695 kronor is also expected to support the valuation during the acceptance period.
Evolution rose 4.0 percent to 783 kronor at the last reported price.
Don’t miss out on Vikingen’s offer!
30% off the four basic programs and all add-on products in the online store. This offer is valid from August 15 through September 13.
Use this link
The code is START30
A warm welcome!
This offer cannot be combined with other offers from Vikingen.
Here you can read about Vikingen’s various software packages and what they include. For the Vikingen Mini, Börs, and Trading programs, you can also purchase the interesting add-ons that are most useful to you.
See the add-ons here. All add-ons and all programs offered by Vikingen are included in Vikingen Maxi.
Here you can take free courses on Viking’s programs Mini, Börs, Trading, and Vikingen Maxi. And don’t forget to ask your friends and colleagues to subscribe to our newsletter.
Vikingen has been around for 40 years and is constantly evolving. A new service will be launched soon!
Vikingen Financial Software reminds you that past performance is not always an indication of future returns, and that all trading is at your own risk.
Yours sincerely
