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What happened
Actions of Immersion (NASDAQ: IMMR) they skyrocketed today, 30% as of noon EST, after a vote of confidence from Wall Street. Colliers reiterated a buy rating on the stock while raising its price target from $ 13 to $ 15.
And that
Analyst Charles Anderson is optimistic about the company’s prospects related to SonyPlayStation 5, incorporating Immersion’s haptic technology into the new DualSense wireless controller. One of the notable additions to the new generation of the game console is the inclusion of adaptive triggers in the controller, which facilitate a new level of haptic feedback for gamers.
DualSense controller. Image source: Sony.
Anderson has been using the DualSense controller and called it a “breakthrough” for Immersion to achieve such an outstanding design in a mass market application. Demand for the PS5 has been off the charts, with units flying off digital shelves within minutes of retailers getting additional inventory after launch last month.
Now what
In last month’s earnings call, Acting CEO Jared Smith provided some additional details on the PS5 opportunity.
“Immersion charges a royalty for each controller and we expect more than one controller per console to be shipped over time to support multiplayer games and replace worn out controllers,” Smith said in early November. “DualSense controllers are now available in retail before the launch of the PlayStation 5 console.”
Anderson believes that Immersion will be able to expand into other markets with its haptic technology offerings and that the company has finally created an “efficient and predictable operating model.”
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