Sharplink Gaming (NASDAQ:SBET) Shares Gap Up – What’s Next?

Sharplink Gaming Inc. (NASDAQ:SBET)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.26, but opened at $8.64. Sharplink Gaming shares last traded at $8.8280, with a volume of 1,570,173 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Canaccord Genuity Group cut their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Cantor Fitzgerald increased their price objective on shares of Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a report on Thursday, September 10th. Citizens Jmp dropped their target price 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. Weiss Ratings raised shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Wall Street Zen upgraded shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Sharplink Gaming Stock Up 11.8%

The company’s 50-day moving average is $7.12 and its 200-day moving average is $6.73. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 183.00 and a beta of 10.56.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of $0.01 by ($1.89). The business had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. Sell-side analysts anticipate that Sharplink Gaming Inc. will post 0.12 EPS for the current year.

Institutional Investors Weigh In On Sharplink Gaming

Several institutional investors and hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new stake in shares of Sharplink Gaming in the 2nd quarter valued at $129,000. Ameritas Advisory Services LLC purchased a new position in Sharplink Gaming during the 2nd quarter valued at about $66,000. Compass Financial Management LLC acquired a new position in Sharplink Gaming in the 2nd quarter valued at about $1,110,000. Headlands Technologies LLC acquired a new position in Sharplink Gaming in the 2nd quarter valued at about $1,341,000. Finally, Lakewood Capital Management LP purchased a new stake in Sharplink Gaming during the second quarter worth about $2,683,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. is a sports betting and iGaming technology company that provides performance marketing and user-acquisition solutions. Its platform helps online sportsbook and casino operators connect with customers through digital marketing, affiliate partnerships, and data-driven player acquisition programs.

The company’s activities have historically included sports betting content, affiliate marketing, and technology services designed to support online gaming operators and their customers.