Sharplink Gaming (NASDAQ:SBET) Issues Earnings Results

Sharplink Gaming (NASDAQ:SBET) issued its earnings results on Monday. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.11, FiscalAI reports. The firm had revenue of $13.31 million for the quarter, compared to the consensus estimate of $17.19 million. Sharplink Gaming had a negative net margin of 7.86% and a negative return on equity of 2.26%.

Sharplink Gaming Trading Down 7.4%

NASDAQ:SBET opened at $7.34 on Monday. The company has a market capitalization of $1.44 billion, a P/E ratio of -3.07 and a beta of 11.40. The business’s 50-day moving average is $8.46 and its 200 day moving average is $11.96. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SBET shares. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the stock a “buy” rating in a report on Thursday, January 29th. B. Riley Financial lowered their target price on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. Wall Street Zen downgraded Sharplink Gaming from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, iA Financial set a $20.00 price target on shares of Sharplink Gaming in a research report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.14.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SBET. JPMorgan Chase & Co. bought a new stake in Sharplink Gaming in the second quarter worth $3,229,000. Qube Research & Technologies Ltd bought a new position in Sharplink Gaming during the second quarter valued at $151,000. NewEdge Advisors LLC bought a new position in Sharplink Gaming during the second quarter valued at $101,000. HUB Investment Partners LLC purchased a new stake in shares of Sharplink Gaming in the second quarter valued at $298,000. Finally, Anatole Investment Management Ltd purchased a new stake in shares of Sharplink Gaming in the second quarter valued at $6,332,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.