Sharplink Gaming Inc. (NASDAQ:SBET) Stock Has Average Price Target of $17.00

Sharplink Gaming Inc. (NASDAQ:SBET) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $17.00.

Several analysts have recently commented on SBET shares. Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a report on Thursday, August 13th. Citizens Jmp dropped their target price on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 target price (up from $12.00) on shares of Sharplink Gaming in a research report on Tuesday, September 22nd. Canaccord Genuity Group decreased their price target on Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sharplink Gaming in a research note on Friday, October 2nd.

Hedge Funds Weigh In On Sharplink Gaming

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Sharplink Gaming by 355.7% during the 3rd quarter. GAMMA Investing LLC now owns 6,116 shares of the company’s stock worth $57,000 after acquiring an additional 4,774 shares during the period. Galvin Gaustad & Stein LLC purchased a new stake in shares of Sharplink Gaming in the third quarter valued at about $102,000. WINTON GROUP Ltd purchased a new stake in shares of Sharplink Gaming in the second quarter valued at about $129,000. Ameritas Advisory Services LLC purchased a new stake in shares of Sharplink Gaming in the second quarter valued at about $66,000. Finally, Compass Financial Management LLC acquired a new stake in Sharplink Gaming during the second quarter worth about $1,110,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Stock Down 1.2%

Shares of NASDAQ SBET opened at $8.49 on Tuesday. The business has a fifty day simple moving average of $8.27 and a two-hundred day simple moving average of $6.94. The firm has a market cap of $1.84 billion, a PE ratio of 169.80 and a beta of 10.60. Sharplink Gaming has a twelve month low of $4.46 and a twelve month high of $16.20.

Sharplink Gaming (NASDAQ:SBET) last posted its 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). The business had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. On average, research analysts expect that Sharplink Gaming will post 0.12 earnings per share for the current year.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. (NASDAQ: SBET) is a technology and digital marketing company serving the online sports betting and iGaming industries. Its platform is designed to help sportsbook and casino operators acquire, engage and retain customers through performance marketing, affiliate partnerships, data-driven campaigns and conversion tools.

The company has historically focused on connecting sports audiences with licensed online betting and gaming operators, supporting customer referral programs and related marketing initiatives.