Wells Fargo & Company Initiates Coverage on Rush Street Interactive (NYSE:RSI)

Equities research analysts at Wells Fargo & Company initiated coverage on shares of Rush Street Interactive (NYSE:RSI) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $26.00 price target on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 23.66% from the stock’s current price.

Several other brokerages also recently weighed in on RSI. Wall Street Zen downgraded Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 21st. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Rush Street Interactive in a report on Monday, December 29th. Freedom Capital raised shares of Rush Street Interactive to a “strong-buy” rating in a research report on Wednesday, March 11th. Finally, Citigroup raised shares of Rush Street Interactive to an “outperform” rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rush Street Interactive presently has an average rating of “Moderate Buy” and a consensus price target of $23.22.

Rush Street Interactive Trading Down 2.0%

Shares of NYSE:RSI opened at $21.03 on Thursday. The stock has a market capitalization of $4.89 billion, a P/E ratio of 75.09 and a beta of 1.54. The stock’s 50-day moving average price is $19.01 and its 200-day moving average price is $19.06. Rush Street Interactive has a 12-month low of $9.66 and a 12-month high of $22.65.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Tuesday, February 17th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Rush Street Interactive had a net margin of 2.94% and a return on equity of 17.95%. The company had revenue of $324.89 million during the quarter, compared to the consensus estimate of $305.08 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was up 27.8% on a year-over-year basis. As a group, research analysts predict that Rush Street Interactive will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Rush Street Interactive news, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $22.02, for a total transaction of $440,400.00. Following the transaction, the chief operating officer directly owned 125,448 shares of the company’s stock, valued at approximately $2,762,364.96. The trade was a 13.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel W. Yih sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $20.14, for a total transaction of $1,007,000.00. Following the completion of the sale, the director directly owned 131,678 shares of the company’s stock, valued at approximately $2,651,994.92. This represents a 27.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,407,743 shares of company stock worth $26,371,042. Insiders own 56.94% of the company’s stock.

Hedge Funds Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently modified their holdings of RSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Rush Street Interactive by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,163 shares of the company’s stock worth $484,000 after buying an additional 1,893 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Rush Street Interactive by 18.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 689,701 shares of the company’s stock worth $7,394,000 after acquiring an additional 109,366 shares during the period. Geode Capital Management LLC raised its position in shares of Rush Street Interactive by 14.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,187,204 shares of the company’s stock worth $32,593,000 after acquiring an additional 268,295 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in shares of Rush Street Interactive by 30.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 19,920 shares of the company’s stock worth $297,000 after acquiring an additional 4,635 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Rush Street Interactive by 5.5% in the 2nd quarter. Swiss National Bank now owns 172,100 shares of the company’s stock valued at $2,564,000 after purchasing an additional 9,000 shares during the period. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive (NYSE: RSI) is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.