Rush Street Interactive, Inc. (NYSE:RSI) Stock Has Consensus Target Price of $26.46 According to Analysts

Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $26.46.

A number of equities research analysts have weighed in on RSI shares. Weiss Ratings downgraded Rush Street Interactive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Needham & Company LLC lowered their price objective on Rush Street Interactive from $36.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Wall Street Zen raised Rush Street Interactive from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Stifel Nicolaus dropped their target price on Rush Street Interactive from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, October 26th. Finally, Benchmark raised their target price on Rush Street Interactive from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd.

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Schwartz sold 111,110 shares of Rush Street Interactive stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $19.88, for a total transaction of $2,208,866.80. Following the completion of the transaction, the chief executive officer directly owned 421,258 shares of the company’s stock, valued at approximately $8,374,609.04. This trade represents a 20.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 on Thursday, October 1st. The shares were sold at an average price of $19.87, for a total transaction of $397,400.00. Following the completion of the sale, the chief operating officer owned 137,874 shares in the company, valued at $2,739,556.38. This represents a 12.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 425,664 shares of company stock valued at $9,480,199. 52.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of hedge funds have recently made changes to their positions in RSI. New York State Teachers Retirement System increased its position in shares of Rush Street Interactive by 5.2% in the first quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock valued at $184,000 after acquiring an additional 419 shares during the last quarter. Allworth Financial LP grew its stake in Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after purchasing an additional 529 shares in the last quarter. ProShare Advisors LLC grew its stake in Rush Street Interactive by 7.0% in the third quarter. ProShare Advisors LLC now owns 15,523 shares of the company’s stock valued at $316,000 after purchasing an additional 1,012 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $35,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Rush Street Interactive by 3.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,587 shares of the company’s stock worth $630,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

Shares of RSI stock opened at $12.13 on Friday. Rush Street Interactive has a one year low of $11.27 and a one year high of $34.53. The stock has a fifty day moving average price of $19.82 and a 200 day moving average price of $23.53. The stock has a market cap of $2.81 billion, a P/E ratio of 36.75 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $385.85 million for the quarter, compared to analyst estimates of $388.05 million. Rush Street Interactive had a net margin of 2.56% and a return on equity of 24.46%. The business’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 EPS. Equities research analysts anticipate that Rush Street Interactive will post 0.49 EPS for the current year.

About Rush Street Interactive

Rush Street Interactive, Inc is an online gaming company that offers real-money online casino games and sports betting. Its consumer-facing brands include BetRivers and, in some markets, PlaySugarHouse. The company also offers free-to-play gaming products.

Rush Street Interactive was established in 2012 as part of the Rush Street Gaming group and became a publicly traded company in 2020. It operates in regulated markets in the United States, Canada and Latin America, with the availability of its products varying by jurisdiction.

Richard Schwartz, a co-founder of the company, serves as its chief executive officer.