Sony (SONY) stock was up on Thursday after the entertainment company announced new parental controls for its PlayStation consoles. PlayStation has introduced a new PlayStation Family App that gives parents control over what their kids can play or view on the company’s PlayStation 4 and PlayStation 5, as well as letting them set play time limits. The app is available on the App Store and Play Store.
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The PlayStation Family App acts as a hub of parental control that grants parents finer details into what their kids are doing on PlayStation. This includes information on what games the kids are playing on the consoles. Additionally, kids can request more playtime, which can be approved through the app, making it easy to manage how long kids can spend on their PS4 or PS5. Kids can also request to play restricted games, and parents can approve or deny those requests.
To go along with these safety features, parents can also control how their kids spend money on PlayStation. That includes setting spending limits, approving purchases, and adding funds to their kids’ digital wallets. Another handy feature is the ability to turn off certain social features, preventing children from communicating with other users. That’s especially important considering recent legal troubles Roblox (RBLX) has had with alleged grooming on its platform.
Sony Stock Movement Today
Sony stock was up 1.36% on Thursday, extending a 37.24% year-to-date rally. The shares have also climbed 53.01% over the past 12 months. Traders will note that PlayStation is far from Sony’s only business. The company is also active in the film and music industries.
Is Sony Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Sony is Moderate Buy, based on one Buy rating over the past three months. With that comes a $31 price target for SONY stock, representing a potential 6.75% upside for the shares.
