Dolphin Entertainment Posts Stellar Q3 Results, Shares Pop 8.4%

Dolphin Entertainment (DLPN) shares jumped 8.4% to close at $9.80 on November 19, after the company delivered a blowout third-quarter results driven by solid revenues growth, for the third consecutive quarter.

Dolphin Entertainment is an independent entertainment marketing and premium content development company. It provides strategic marketing and publicity services to major film studios and independent digital content providers.  (See Dolphin stock chart on TipRanks)

Q3 Performance

In Q3, adjusted earnings of $0.02 per share increased significantly against a loss of $0.04 per share in the prior-year period.

Furthermore, revenues jumped 70% year-over-year to $9.4 million against $5.5 million in the prior-year quarter. The increase in revenues reflects a surge in organic growth from existing subsidiaries, which increased 41% year over year.

See Insiders’ Hot Stocks on TipRanks >>

Management Weighs In

Bill O’Dowd, CEO of Dolphin Entertainment, commented, “We’ve been managing quite nicely to positive operating income, while we’ve been building out the Dolphin 2.0 business opportunities, including the infrastructure needed to launch our NFT business in earnest shortly.”

He further added, “Furthermore, our cash on hand exceeds all debt, including long-term debt, by over $2.8 million, solidifying Dolphin as a financially-sound, profitable and growing company. That is a tremendous platform from which to execute on our first year of Dolphin 2.0 initiatives.”

Wall Street’s Take

The company has been rated by just one analyst with a Buy rating. The Average Dolphin price target of $30 implies upside potential of 206.1% to current levels.

Bloggers Weigh In

According to TipRanks data, financial blogger opinions are 100% Bullish on DLPN against a sector average of 69%.

Related News:
Lithium Americas Acquires Millennial Lithium; Shares Up 3.5%
Kraft Heinz Falls after Top Shareholder Offers to Sell Shares
Uber Unveils New Membership Program: Uber One