Rush Street Interactive, Inc. (NYSE:RSI) Stock Has Average Target Price of $34.20

Shares of Rush Street Interactive, Inc. (NYSE:RSI) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $34.20.

Several research firms recently weighed in on RSI. Benchmark upped their price target on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Citigroup reiterated a “market outperform” rating on shares of Rush Street Interactive in a report on Tuesday, September 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 price objective on shares of Rush Street Interactive in a report on Thursday, July 30th. Oppenheimer boosted their price objective on Rush Street Interactive from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Needham & Company LLC increased their target price on Rush Street Interactive from $33.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, July 30th.

Rush Street Interactive Stock Down 2.4%

Shares of RSI stock opened at $18.51 on Tuesday. The stock has a market cap of $4.29 billion, a PE ratio of 63.82 and a beta of 1.71. The business has a 50-day simple moving average of $23.41 and a 200-day simple moving average of $26.12. Rush Street Interactive has a 52-week low of $15.51 and a 52-week high of $34.53.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $393.78 million for the quarter, compared to analysts’ expectations of $367.75 million. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The business’s revenue was up 46.3% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. Sell-side analysts anticipate that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.

Insider Transactions at Rush Street Interactive

In other news, CEO Richard Schwartz sold 47,222 shares of Rush Street Interactive stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.88, for a total value of $938,773.36. Following the sale, the chief executive officer directly owned 374,036 shares of the company’s stock, valued at $7,435,835.68. The trade was a 11.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $19.87, for a total value of $397,400.00. Following the sale, the chief operating officer owned 137,874 shares of the company’s stock, valued at $2,739,556.38. The trade was a 12.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 603,998 shares of company stock valued at $14,814,268. Insiders own 52.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of Rush Street Interactive during the second quarter worth $35,000. CoreCap Advisors LLC acquired a new stake in shares of Rush Street Interactive in the second quarter valued at about $54,000. Allworth Financial LP acquired a new stake in shares of Rush Street Interactive in the second quarter valued at about $57,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Rush Street Interactive in the second quarter valued at about $70,000. Finally, Quantbot Technologies LP purchased a new position in shares of Rush Street Interactive in the second quarter worth about $98,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.