NEW YORK (TheStreet) -- Sony (SNE) - Get Report shares are down 0.18% to $27.99 in Friday's pre-market trading session despite the company selling over 40 million units of PlayStation 4, outpacing all of its predecessors, the Wall Street Journal reports.
This is an indication that momentum is strong at Sony Interactive Entertainment, the company's videogame and network-services division.
Sales of PlayStation 4, which first rolled out in November 2013, are also beating Sony's competitors like Nintendo's (NTDOY) Wii U and Microsoft's (MSFT) Xbox One.
Looking ahead, the Japanese videogame maker is planning to ship an additional 20 million PlayStation 4 units during fiscal 2016, the Journal noted.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: SNE