Sharplink Gaming Inc. (SBET) – What Are Analysts Thinking About This Stock?

Sharplink Gaming Inc. (NASDAQ:SBET) has been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms have commented on SBET. Wall Street Zen raised shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. B. Riley Financial restated a “buy” rating and issued a $14.00 price target (up from $12.00) on shares of Sharplink Gaming in a report on Tuesday, September 22nd. Canaccord Genuity Group lowered their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. TD Cowen reiterated a “buy” rating and set a $13.00 price objective (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Finally, 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 research note on Thursday, September 10th.

Institutional Trading of Sharplink Gaming

A number of hedge funds have recently bought and sold shares of SBET. Renaissance Technologies LLC purchased a new position in shares of Sharplink Gaming in the 1st quarter valued at $11,691,000. Clear Street Group Inc. bought a new position in shares of Sharplink Gaming in the 4th quarter worth $5,253,000. SG Americas Securities LLC lifted its stake in shares of Sharplink Gaming by 332.9% during the 1st quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock worth $4,889,000 after purchasing an additional 582,919 shares during the last quarter. Lakewood Capital Management LP purchased a new stake in shares of Sharplink Gaming during the 2nd quarter worth $2,683,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Sharplink Gaming during the 2nd quarter worth $2,488,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Stock Down 2.5%

Shares of NASDAQ SBET opened at $8.59 on Tuesday. The business has a fifty day simple moving average of $8.23 and a two-hundred day simple moving average of $6.93. The firm has a market cap of $1.87 billion, a PE ratio of 171.80 and a beta of 10.60. Sharplink Gaming has a twelve month low of $4.46 and a twelve month high of $17.17.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share (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 firm had revenue of $11.53 million for the quarter, compared to the consensus estimate of $12.26 million. On average, research analysts expect that Sharplink Gaming will post 0.12 earnings per share for the current year.

About Sharplink Gaming

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.