HUYA Inc.
HUYA Inc. (NYSE: HUYA) operates game live streaming platforms in China. It also offers non-game entertainments such as talent shows and outdoor activities.
Investment Rationale for Valuation – Speculative Buy at USD 15.05
Key Risks
Financial Highlights (for three months ended 31 March 2021 (Q1 FY2021), as of 18 May 2021)
(Source: Company Website)
One Year Share Price Chart
(Analysis done by Kalkine Group)
Valuation Methodology: Price/Earnings Approach (NTM) (Illustrative)
Conclusion
As per the industry experts, the global game streaming market is expected to grow at a CAGR of 9% till 2026. Also, China is expected to dominate the game streaming market. HUYA is already a leading force in the Chinese game streaming market, and DouYu acquisition would give it a significant boost. The Company did well during the Covid-19 lockdown as there was more demand for games, and it is ready to continue the momentum in FY2021 with further investment and expansion. The stock made a 52-week low and high of USD 14.32 and USD 36.33, respectively. On the technical chart, the next important support level is USD 12.39.
Based on decent prospects of the Company and industry, favourable profitability, liquidity and leverage profile of the Company, its favourable prospect driven by DouYu acquisition, and support from valuation as done using the above method, we have given a “Speculative Buy” recommendation on HUYA Inc. at the closing market price of USD 15.05 (as of 27 May 2021), with a lower double-digit upside potential based on 35.49x Price/NTM Earnings (approx.) on FY21E earnings per share (approx.).
Paysign Inc.
Paysign Inc. (NASDAQ: PAYS) is a support services company providing payment solutions. The Company offers payment processing, prepaid cards and digital banking.
Investment Rationale – Speculative Buy at USD 3.33
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