7 Most Profitable Gaming Stocks To Invest In

5. Sony Group Corporation (NYSE:SONY)

TTM Net Income: $6.61 Billion

5-Year Net Income CAGR: 3.18%

Number of Hedge Fund Holders: 29

Sony Group Corporation (NYSE:SONY) is a leading Japanese multinational company. It is known for its strong presence in the gaming industry through its subsidiary, Sony Interactive Entertainment. Its PlayStation brand has become iconic, with successful consoles like the PlayStation 4 and PlayStation 5 attracting a dedicated fan base. As of June 2024, Sony reported 116 million monthly active PlayStation accounts, reflecting a 7% increase from the previous year, alongside an 8% rise in total playtime.

Despite not launching new titles recently, the company’s gaming segment continues to thrive. Engagement remains high due to the growing user base of the PlayStation 5 and popular games like Helldivers 2 and Ghost of Tsushima on PC. Upcoming releases, including the live service game Concord and God of War Ragnarok for PC, are expected to boost player interest even further. In the first quarter of fiscal year 2024, which ended on June 30, 2024, Sony’s Network Services saw a notable 13% increase in sales, driven by premium services like PlayStation Plus.

In September, Sony Group Corporation (NYSE:SONY) unveiled the PlayStation 5 Pro, set to launch on November 7, 2024. This upgraded console features enhanced graphics capabilities with a more powerful GPU, allowing for better performance and smoother gameplay. With improvements like advanced ray tracing and AI-driven upscaling, the PS5 Pro promises an exceptional gaming experience.

As one of the most profitable stocks in the gaming industry, Sony Group Corporation (NYSE:SONY) has a trailing twelve-month net income of $6.61 billion as of June 30, 2024.

Analysts are bullish on SONY. Analysts currently hold a consensus buy rating on the stock and the 1-year median price target of $22.63 set by analysts indicates a potential upside of 21% from current levels.

Overall, SONY represents a strong investment opportunity in the gaming sector. With a solid lineup of exclusive games and continuous innovation in hardware, the company is well-positioned to expand its market presence.

According to Insider Monkey’s Q2 2024 database of 912 elite hedge funds, 29 hedge funds held stakes in Sony Group Corporation (NYSE:SONY).