Light & Wonder

LNW · NASDAQ

$85.75+$2.07 (+2.47%)TodayMarket closed · Oct 20, 3:41 PM ET

Prev close $83.69

LNW analyst rating

BuyConsensus of 2 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy1
Hold1
Underperform0
Sell0

12-month price target · 10 analysts

Average $107.34 (+25.2% upside)

Low: $81.81
Now: $85.75
High: $151.20

Upgrades and downgrades

The latest rating actions, newest first

LNW analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Benchmark	Dec 1, 2025	Maintains	Buy	$90.00 → $110.00	54%
Stifel	Oct 28, 2025	Maintains	Hold	$95.00 → $83.00	23%

The case for and against

Updated Nov 11, 2025

Bull case

Light & Wonder is poised for positive growth due to its continued market share expansion, driven by effective DTC conversion strategies and reinvestment of cost savings into user acquisition efforts, which enhance its competitive positioning in the gaming sector. The company's innovative approach to research and development, coupled with strategic key hires, is expected to further bolster its product offerings, while the increasing ARPDAU in social gaming reflects robust consumer engagement and revenue potential. Additionally, the favorable dynamics in the Australian gaming market and thriving regional/tribal GGR contribute to Light & Wonder’s strong outlook, positioning the firm favorably amidst a competitive landscape.

Bear case

The financial outlook for Light & Wonder appears negative due to a revised forecast indicating a 5% reduction in segment AEBITDA for the second half of 2025 and fiscal year 2026, aligning with consensus expectations. Key concerns include weakness in the social gaming market, competitive dynamics in both the slot and iCasino sectors, and potential impacts from macroeconomic pressures, including consumer spending and regulatory changes in Europe. Additionally, the ongoing court case regarding the popular Dragon Train franchise and the risks associated with the transition to an ASX primary listing contribute to an uncertain outlook for both margins and stock performance.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.