Capcom (CCOEY) stock is up today following the release of the video game developer’s Monster Hunter Wilds. This latest entry in the long-running series has attracted a massive amount of gamers on its first day with more than 1.3 million concurrent players on Steam.
Of course, that number doesn’t mean much without context. To give it some, Monster Hunter Wilds is currently the number two most-played game on Steam behind Counter-Strike 2’s 1.7 million players. This also has the Capcom game taking the sixth spot on the list of games with the highest number of concurrent players on Steam. Monster Hunter Wilds is likely to break into the top five taking that position from Lost Ark and its 1.35 million player peak.
Investors have high hopes for Monster Hunter Wilds as Capcom has finally gained the attention of U.S. gamers. The series started on the PlayStation 2 in 2004 but remained a niche in the country for years. That changed with the release of Monster Hunter World in 2018, which went on to sell over 21 million units, with more than 70% of those coming from outside Japan.
Capcom Stock Movement Today
The launch of Monster Hunter Wilds and its huge Steam player count propelled CCOEY stock 1.46% higher on Friday. That builds on its 13.57% year-to-date gain and 24.63% rally over the last 52 weeks. It also comes alongside heavy trading with more than 215,000 units traded, compared to a three-month daily average of 13.06 million shares.
Is Capcom Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Capcom (CCOEF) is Strong Buy based on four Buy ratings over the last three months. With that comes an average price target of $27.69, a high of $30.82, and a low of $24.79. This represents a potential 5.49% upside for CCOEF stock.
