Riot Stock Forecast: What's the Price Prediction for 2024?
Riot Games (NASDAQ: RIOT) is a video game developer and publisher best known for its massively multiplayer online battle arena (MOBA) game, League of Legends. The company has been on a tear in recent years, with its stock price more than doubling in the past year. As of March 8, 2023, Riot Games is valued at over $35 billion.
So, what's the Riot stock forecast for 2024? Here are a few things to consider:
- League of Legends continues to grow in popularity. League of Legends is the most popular PC game in the world, with over 180 million monthly active players. The game is still growing in popularity, and there's no reason to believe that this trend will end anytime soon.
- Riot Games is expanding its business beyond League of Legends. In recent years, Riot Games has released a number of new games, including Valorant, Teamfight Tactics, and Legends of Runeterra. The company is also planning to release a new game called Project L, which is a fighting game set in the League of Legends universe.
- Riot Games is investing heavily in esports. Esports is a growing industry, and Riot Games is one of the biggest players in the field. The company has invested heavily in esports tournaments and leagues, and it is also planning to launch its own esports franchise in 2024.
Based on these factors, it's reasonable to expect that Riot Games' stock price will continue to rise in 2024. However, there are also some risks to consider, such as the possibility of a new competitor emerging or the game losing popularity.
Here is a more detailed Riot stock forecast for 2024:
- Q1 2024: Riot Games is expected to report strong earnings growth in the first quarter of 2024. The company is likely to benefit from the continued growth of League of Legends and the launch of new games. Riot Games' stock price could reach $40 per share in the first quarter of 2024.
- Q2 2024: Riot Games is expected to continue its strong growth in the second quarter of 2024. The company is likely to benefit from the continued growth of League of Legends and the launch of new games. Riot Games' stock price could reach $45 per share in the second quarter of 2024.
- Q3 2024: Riot Games is expected to see some slowdown in growth in the third quarter of 2024. The company is likely to face some competition from new games, and League of Legends could start to lose some of its popularity. Riot Games' stock price could reach $40 per share in the third quarter of 2024.
- Q4 2024: Riot Games is expected to rebound in the fourth quarter of 2024. The company is likely to release new games and content for League of Legends, and it is also likely to benefit from the holiday shopping season. Riot Games' stock price could reach $45 per share in the fourth quarter of 2024.
Overall, Riot Games is a strong company with a bright future. The company is expected to continue to grow in 2024, and its stock price could reach $45 per share by the end of the year.
Key Takeaways
- Riot Games is a video game developer and publisher best known for its massively multiplayer online battle arena (MOBA) game, League of Legends.
- The company has been on a tear in recent years, with its stock price more than doubling in the past year.
- Riot Games is expected to continue its strong growth in 2024, and its stock price could reach $45 per share by the end of the year.
Risks to Consider
- There is always the possibility of a new competitor emerging or the game losing popularity.
- Riot Games' stock price could be volatile, and it is important to do your own research before investing.