Needham Assigns a Buy Rating on World Wrestling (WWE)

By Carrie Williams

In a report released today, Laura Martin from Needham assigned a Buy rating to World Wrestling (WWEResearch Report), with a price target of $45.00. The company’s shares closed last Thursday at $44.77.

According to TipRanks.com, Martin is a 5-star analyst with an average return of 17.3% and a 62.5% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, Nielsen Holdings, and Walt Disney.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for World Wrestling with a $50.00 average price target.

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The company has a one-year high of $78.76 and a one-year low of $29.10. Currently, World Wrestling has an average volume of 1.5M.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WWE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

World Wrestling Entertainment, Inc. engages in the development, production and marketing of television and pay-per-view event programming and live events and the licensing and sale of consumer products featuring its brands. It operates through the following business segments: Digital Media, Live Events, Consumer Products Division, WWE Studios, and Corporate & Other. The Digital Media segment revenues consist principally of subscriptions to WWE Network, fees for viewing its pay-per-view and video-on-demand programming, and advertising fees. The Live Events segment revenues consist principally of ticket sales and travel packages for live events. The Consumer Products segment revenues consist principally of royalties or license fees related to various WWE themed products such as video games, toys and apparel. The WWE Studios segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The Corporate & Other segment revenues consist of amounts earned from the investing in producing and/or distributing of filmed entertainment. The company was founded by Vincent K. McMahon in 1980 and is headquartered in Stamford, CT.