Sharplink Gaming Inc. (NASDAQ:SBET) Receives $32.29 Consensus Price Target from Analysts

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $30.25.

Several research firms have weighed in on SBET. Canaccord Genuity Group set a $16.00 price objective on shares of Sharplink Gaming and gave the company a “buy” rating in a research report on Thursday, January 29th. Cantor Fitzgerald initiated coverage on shares of Sharplink Gaming in a research note on Monday, January 5th. They set an “overweight” rating and a $15.00 price target on the stock. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price target for the company. Zacks Research upgraded shares of Sharplink Gaming to a “hold” rating in a research report on Friday, October 17th. Finally, Industrial Alliance Securities set a $20.00 price objective on Sharplink Gaming in a report on Wednesday, January 7th.

Sharplink Gaming Stock Performance

Shares of SBET stock opened at $7.08 on Thursday. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12. The stock has a market capitalization of $1.39 billion, a PE ratio of -2.96 and a beta of 11.28. The stock’s fifty day moving average is $9.86 and its 200-day moving average is $14.29.

Hedge Funds Weigh In On Sharplink Gaming

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Sharplink Gaming in the 3rd quarter valued at about $49,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sharplink Gaming by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock worth $139,000 after buying an additional 2,946 shares during the last quarter. IFP Advisors Inc acquired a new position in Sharplink Gaming in the third quarter valued at approximately $102,000. Global Retirement Partners LLC acquired a new position in Sharplink Gaming in the third quarter valued at approximately $103,000. Finally, Highbridge Capital Management LLC bought a new position in Sharplink Gaming in the third quarter valued at approximately $144,000. Institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.