10 Best Entertainment Stocks To Buy According to Analysts

7. Codere Online Luxembourg, S.A. (NASDAQ:CDRO)

Analysts’ Upside Potential: 36.68%

Number of Hedge Funds: 5 

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) is one of the best entertainment stocks to buy according to analysts. It provides online casino and betting services through its website and mobile-based application. The company serves in core markets including Spain, Mexico, Colombia, Argentina, and Panama.

Codere Online Luxembourg, S.A. (NASDAQ:CDRO) has been successful in increasing its user base. During the fiscal third quarter of 2024, its monthly active users improved 15% year-over-year to reach around 143,000. Moreover, it also benefited from an increased average spending per customer, which improved by 4% to reach €120 (around $126). As a result, it was able to grow its net gaming revenue by 20%, reaching  €51.7 million ($54.26 million).

The company’s business remained strong across all core markets. Its core markets are categorized as Spain, Mexico, and others. Net gaming revenue in Spain and Mexico grew by 10.6% and 27.1%, respectively. While all other markets grew by a consolidated 24.2% growth rate year-over-year. Management expects to end the fiscal year with its revenue close to the top end of its €205 million to €215 million ($215 million and $226 million) guideline.