Last week, we found out that “Inside Out 2,” the latest Pixar/Disney (NYSE:DIS) movie, proved a serious winner at the box office. As it turns out, though, it lost little ground the following week, as it became just what Disney needed most right now: a winner. And a big one, too. But the news wasn’t much help, as shareholders pulled back and sent Disney shares down fractionally in Monday afternoon’s trading.
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The win for Disney came with one title: “Highest Grossing Film of 2024.” Some might uncharitably add the caveat, “so far,” but it remains that Disney knocked this one out of the park. Its global take swelled to $724 million after pulling in another $100 million in the domestic theater totals. This comes amid concerns that the movie theater, in general, is on the way out, but “Inside Out 2”’s numbers suggest that there’s still life in the platform as a whole.
Other Video Proves Less Savory
This win might have meant more for Disney if it weren’t currently reeling in the grip of scandal. Michael Giordano, a senior vice president with Disney, was ousted following his complaints on hidden camera that race-based hiring is actively in play at the House of Mouse. Giordano straight-up admitted in the footage that Disney will say, “…there’s no way we’re hiring a white male for this,” noting that he finds white males like himself often passed up for promotion due to political issues set against them.
Giordano took a leave of absence after the footage emerged, and there’s word that the Senate Judiciary Committee is taking aim at Disney over this clearly smoking gun.
Is Disney a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on DIS stock based on 20 Buys and five Holds assigned in the past three months, as indicated by the graphic below. After a 15.47% rally in its share price over the past year, the average DIS price target of $129.04 per share implies 26.49% upside potential.
