SeeThruEquity has initiated coverage and issued a price target of $3.20 on shares of Function(x), Inc. (NASDAQ: FNCX). The analyst noted that the company’s media properties, Wetpaint and Rant, had approximately 210 million page views in March and have over 10 million social media followers. The analyst also cited the company’s steps to restructure its balance sheet, demonstrated by the $4.8 million new equity capital raised in February. Function(x) is also evaluating the sale of non-core assets and is in the process of renegotiating its debt.
For more information, visit www.functionxinc.com
About Function(x), Inc.
Function(x) operates Wetpaint.com and Rant. Wetpaint is an online destination for entertainment news for millennial women, covering the latest in television, music, and pop culture. Rant is a digital publisher with original content in multiple different verticals, most notably in sports, entertainment, and pets. Function(x) Inc. is also the largest shareholder of DraftDay Gaming Group, which is in the expanding fantasy sports market, offering a high-quality daily fantasy sports experience both directly to consumers and to businesses desiring turnkey solutions to new revenue streams. Function(x) Inc. also owns Choose Digital, a digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives.
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