Motorsport Games Inc. develops and publishes multi-platform racing video games in the United States. It operates through Gaming and Esports segments. The company offers video games for game consoles, personal computer, and mobile platforms through various retail and digital channels, including full-game and downloadable content. It also organizes and facilitates esports tournaments, competitions, and events for its licensed racing games, as well as on behalf of third-party racing game developers and publishers. Motorsport Games Inc. was founded in 2018 and is headquartered in Miami, Florida.Motorsport Games Inc. operates as a subsidiary of Motorsport Network LLC.
IPO Year: 2021
Exchange: NASDAQ
Website: motorsportgames.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/3/2022 | Outperform → Market Perform | Noble Capital Markets | |
| 8/19/2021 | $15.00 | Buy | DA Davidson |
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MIAMI, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company") today reported financial results for its third quarter ended September 30, 2024. The Company has also posted the third quarter 2024 earnings slides highlighting key milestones that occurred during and subsequent to the period, which are accessible on the Company's investor relations website. "The business has continued to take useful strides in Q3 2024 with further product updates, business streamlining and in the assessment of undertaking of the previously announced ‘strategic alternatives,'" remarked Stephen Hood, President and Chief Executive Officer of Motorsport Games.
MIAMI, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the third quarter of 2024 on Thursday, November 14, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The ca
MIAMI, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company") is announcing that the Board of Directors has authorized management to consider strategic alternatives to maximize shareholder value, including a potential sale or merger of the Company. Management is also seeking funding that would allow it to deliver on viable opportunities including bringing Le Mans Ultimate to Sony PlayStation and Microsoft Xbox gaming consoles. Le Mans Ultimate is the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans and was released on PC platforms in early access in February 2024. Furthermore, the Company has undergone a
MIAMI, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company") has released the September Update for "Le Mans Ultimate", the official game of the FIA World Endurance Championship and the 24 Hours of Le Mans. This latest update, available now, includes a new co-op game mode, a completed Hypercar grid, and the release of iconic new content for fans of sportscar and sim racing. New game features in this update include a newly released co-op mode that allows players to race with friends, taking turns completing stints and handing over control to a team mate at a time that is convenient to you, working together across several days or w
MIAMI, Sept. 06, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher, and esports ecosystem provider of official motorsport racing series, announced today that Chief Executive Officer and President, Stephen Hood, and Chief Financial Officer, Stanley Beckley, will participate in an upcoming investor conference. Stephen Hood will give a virtual presentation at the H.C. Wainwright 26th Annual Global Investment Conference, held at the Lotte New York Palace Hotel in New York City, September 9-11, 2024. A replay of the webcast will be available in the investor section of Motorsport Games' website. To schedule a
MIAMI, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company") today reported financial results for its second quarter ended June 30, 2024. The Company has also posted the second quarter 2024 earnings slides highlighting key milestones that occurred during and subsequent to the period, which are accessible on the Company's investor relations website. "We are pleased to have built upon the foundation that our successful launch of Le Mans Ultimate achieved in February 2024 in this quarter," stated Stephen Hood, President and Chief Executive Officer of Motorsport Games. "For players, we've made significant improvements to the game through
MIAMI, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the second quarter of 2024 on Friday, August 9, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call m
MIAMI, July 26, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or the "Company"), today announced that it has entered into definitive agreements for the sale and issuance of 460,830 shares of Class A common stock (or pre-funded warrants in lieu thereof) of the Company at an offering price of $2.17 per share (or per pre-funded warrant in lieu thereof), in a registered direct offering priced at-the-market under the Nasdaq rules. In a concurrent private placement, Motorsport Games will issue unregistered Series A warrants to purchase up to 460,830 shares of Class A common stock and unregistered Series B warrants to purchase up to 460,830 shares of Class A com
MIAMI, July 23, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM)("Motorsport Games" or the "Company"), a racing game developer and publisher, is today releasing the first Downloadable Content (DLC) Pack for ‘Le Mans Ultimate', the official game of the FIA World Endurance Championship and 24 Hours of Le Mans. Available from today, this release marks the first outing of new additions to the 2024 grid, and adds to a growing roster of race tracks. The inaugural DLC pack ("2024 Pack 1") is themed around the Italian "Tifosi" and features the Autodromo Internazionale Enzo e Dino Ferrari (Imola Circuit) alongside two standout Hypercars - the Italian Lamborghini SC63 LMDH and the 2024
MIAMI, July 10, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM), a racing game developer and publisher, today disclosed its preliminary financial results on an unaudited basis for the quarter ending June 30, 2024. The company anticipates reporting net income ranging between $1.6 million and $1.8 million for the quarter ending June 30, 2024, compared to a net loss of $8.2 million reported during the same period in the previous year. This expected increase in net income is primarily due to: Recognition of a $2.5 million gain stemming from a Settlement and Licensing Agreement with INDYCAR LLC, executed on May 17, 2024.A gain of $0.6 million related to the Settlement Agreement
Noble Capital Markets downgraded Motorsport Games from Outperform to Market Perform
DA Davidson initiated coverage of Motorsport Games with a rating of Buy and set a new price target of $15.00
Oppenheimer initiated coverage of Motorsport Games with a rating of Buy and set a new price target of $42.00
Benchmark initiated coverage of Motorsport Games with a rating of Buy and set a new price target of $42.00
The Benchmark Company initiated coverage of Motorsport Games with a rating of Buy and set a new price target of $42.00
Canaccord Genuity initiated coverage of Motorsport Games with a rating of Buy
Canaccord Genuity initiated coverage of Motorsport Games with a rating of Buy and set a new price target of $40.00
MIAMI, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company") today reported financial results for its third quarter ended September 30, 2024. The Company has also posted the third quarter 2024 earnings slides highlighting key milestones that occurred during and subsequent to the period, which are accessible on the Company's investor relations website. "The business has continued to take useful strides in Q3 2024 with further product updates, business streamlining and in the assessment of undertaking of the previously announced ‘strategic alternatives,'" remarked Stephen Hood, President and Chief Executive Officer of Motorsport Games.
MIAMI, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the third quarter of 2024 on Thursday, November 14, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The ca
MIAMI, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the second quarter of 2024 on Friday, August 9, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." This webcast will be available live and remain accessible as a recording for 12 months following the date of the call. The call m
MIAMI, May 07, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or the "Company") today reported financial results for its first quarter ended March 31, 2024. The Company has also posted the first quarter 2024 earnings slides highlighting key milestones that occurred in the period, which are accessible on the Company's investor relations website. "The first quarter of 2024 marked a significant milestone in the company's rejuvenation with the release of the first game developed solely by Studio 397, Le Mans Ultimate, to recognizably positive reviews," commented Stephen Hood, President and Chief Executive Officer of Motorsport Games. "Thanks to th
MIAMI, May 02, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the first quarter of 2024 on Tuesday, May 7, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the live webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." The call may also be accessed by dialing 1-800-225-9448 or 1-203-518-9708 and using conference ID "Motor". About Motorsport Gam
MIAMI, April 01, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or the "Company") today reported financial results for its fourth quarter and fiscal year ended December 31, 2023. The Company has also posted the fourth quarter and fiscal year-end 2023 earnings slides highlighting key milestones that occurred in the period, which are accessible on the Company's investor relations website. "2023 was a year of repositioning. Reducing costs, headcount and projects allowed us to focus on what we know best, making innovative games. Having determined the correct direction for the company, we put our energy into Le Mans Ultimate, an innovative team-based racing ti
MIAMI, March 27, 2024 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or "the Company"), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series, will report its financial results for the fourth fiscal quarter of 2023 and full 2023 fiscal year on Monday, April 1, 2024 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the live webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." The call may also be accessed by dialing 1-888-886-7786 from the U.S., or by dial
MIAMI, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or the "Company") today reported financial results for its third fiscal quarter ended September 30, 2023. The Company has also posted Q3 2023 earnings slides highlighting key milestones that occurred in the period, which are accessible on the Company's investor relations website. All share data and share-based calculations set forth in this press release have been adjusted to reflect the Company's 1-for-10 reverse stock split completed on November 10, 2022 on a retroactive basis for the periods presented. "This quarter has continued to be one of business transformation," commented Stephen Hood
MIAMI, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games" or the "Company"), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, will report its financial results for the third quarter of 2023 on Tuesday, November 7, 2023, after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results. Participants may access the live webcast on the Company's investor relations website at https://ir.motorsportgames.com under "Events." The call may also be accessed by dialing 1 (844) 826-3033 from the U.S., or by dialing 1 (
iRacing to develop NASCAR console game available in 2025 DAYTONA BEACH, Fla., Oct. 5, 2023 /PRNewswire/ -- NASCAR®, iRacing and Motorsport Games Inc. (NASDAQ:MSGM) ("Motorsport Games") announced today that iRacing has acquired NASCAR Team Properties' (NTP) exclusive simulation-style console racing games license from Motorsport Games. The sale, approved by NTP, will see the license transfer from 704Games, a wholly owned subsidiary of Motorsport Games, to iRacing, which will begin developing a NASCAR console game expected in 2025. iRacing Acquires NASCAR Team Properties' Exclus
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Canaccord Genuity analyst Michael Graham maintains Motorsport Games (NASDAQ:MSGM) with a Hold and maintains $5 price target.
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In a notable pre-market surge, shares of MotorSport Games Inc. (NASDAQ:MSGM) climbed over 20%, following the company’s announcement of regaining compliance with NASDAQ listing requirements. What Happened: At the moment of reporting, MSGM’s shares were valued at $2.81 in the pre-market session. Previously facing operational challenges, MotorSport Games has executed a 2022 Restructuring Plan, which has reportedly slashed annual costs by $6.7 million, Investing.com reported. This was achieved through workforce reductions and the shutdown of certain operations. The company is currently concentrating on revenue-driving initiatives, including the launch of “Le Mans Ultimate” and a partne