Chinese Megacorp Tencent To Shut Down Synced, Ending Another Live Service Game's Run
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 12 2024
0mins
Source: Benzinga
- Tencent terminates Synced: Tencent Holdings ADR TCEHY has decided to shut down Synced, a free-to-play co-op shooter, due to dwindling player numbers and negative reviews. The game will be retired on September 9, 2024.
- Live service game shutdowns: The closure of Synced adds to the trend of live service games struggling to maintain player bases, despite significant investments, with examples like Rocksteady's Suicide Squad: Kill the Justice League facing challenges in retaining audiences.
Analyst Views on NTES
Wall Street analysts forecast NTES stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NTES is 157.33 USD with a low forecast of 135.00 USD and a high forecast of 166.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
5 Buy
1 Hold
0 Sell
Strong Buy
Current: 132.840
Low
135.00
Averages
157.33
High
166.00
Current: 132.840
Low
135.00
Averages
157.33
High
166.00
About NTES
NetEase Inc is a company principally engaged in the gaming business. The Company operates through four segments. Games and Related Value-Added Services segment is engaged in the development and sale of mobile games, game operations, and other value-added services, including in-game virtual items and prepaid credits. Youdao segment provides learning services, smart devices, and online marketing services. The segment's products and services include online courses and digital content services. NetEase Cloud Music segment provides online music services, social entertainment services, and other services through the sale of membership subscriptions for various content and service packages, primarily through the sale of virtual items. Innovative Businesses and Others segment provides rigorous selection, advertising services, email, and other value-added services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
