Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sharplink Gaming Inc. (NASDAQ:SBET) has earned an average rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $19.0111.

A number of equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Cantor Fitzgerald decreased their price target on shares of Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. TD Cowen restated a “buy” rating and set a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Citizens Jmp cut their price target on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded Sharplink Gaming from a “hold” rating to a “strong sell” rating in a research report on Saturday.

Hedge Funds Weigh In On Sharplink Gaming

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Sharplink Gaming during the second quarter worth $66,000. Compass Financial Management LLC acquired a new stake in shares of Sharplink Gaming in the second quarter valued at approximately $1,110,000. Headlands Technologies LLC acquired a new position in shares of Sharplink Gaming in the second quarter valued at $1,341,000. Lakewood Capital Management LP acquired a new stake in shares of Sharplink Gaming during the 2nd quarter worth about $2,683,000. Finally, Bank of New York Mellon Corp acquired a new position in Sharplink Gaming in the 2nd quarter valued at about $2,488,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Price Performance

SBET opened at $7.91 on Monday. Sharplink Gaming has a 12 month low of $4.46 and a 12 month high of $21.03. The stock has a market cap of $1.72 billion, a P/E ratio of 158.20 and a beta of 10.48. The company has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $6.50.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%.The business had revenue of $11.53 million for the quarter, compared to analyst estimates of $12.26 million. On average, equities research analysts expect that Sharplink Gaming will post 0.09 earnings per share for the current fiscal year.

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.