Sharplink Gaming Inc. (NASDAQ:SBET) Stock Has Consensus Target Price of $16.00

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of research analysts have weighed in on the company. TD Cowen reiterated a “buy” rating and set a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Sharplink Gaming in a research note on Friday, October 2nd. Wall Street Zen upgraded Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. Citizens Jmp reduced their price target on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of Sharplink Gaming in a report on Tuesday, September 22nd.

Insider Activity at Sharplink Gaming

In other news, Director Joseph Lubin sold 5,676,952 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total transaction of $47,629,627.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Weiss Asset Management LP boosted its stake in Sharplink Gaming by 19.1% during the first quarter. Weiss Asset Management LP now owns 3,042,548 shares of the company’s stock worth $19,624,000 after acquiring an additional 488,247 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Sharplink Gaming in the first quarter worth about $11,691,000. Bank of America Corp DE grew its holdings in Sharplink Gaming by 56.6% in the first quarter. Bank of America Corp DE now owns 1,275,442 shares of the company’s stock worth $8,227,000 after purchasing an additional 460,991 shares during the period. Lakewood Capital Management LP bought a new position in shares of Sharplink Gaming during the second quarter valued at approximately $2,683,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Sharplink Gaming during the second quarter valued at approximately $2,488,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

Sharplink Gaming Price Performance

SBET stock opened at $6.74 on Friday. Sharplink Gaming has a 1 year low of $4.46 and a 1 year high of $13.94. The company has a market cap of $1.46 billion, a P/E ratio of 134.80 and a beta of 10.60. The firm has a 50-day moving average of $8.56 and a 200 day moving average of $7.26.

Sharplink Gaming (NASDAQ:SBET) last issued its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing the consensus estimate of $0.01 by ($1.89). The company had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. On average, equities research analysts expect that Sharplink Gaming will post 0.12 earnings per share for the current fiscal year.

About Sharplink Gaming

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.