Sharplink Gaming Inc. (NASDAQ:SBET) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.50.

Several brokerages have weighed in on SBET. Canaccord Genuity Group dropped their target price on Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Citizens Jmp reduced their price target on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating and issued a $13.00 price objective (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Finally, Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th.

Hedge Funds Weigh In On Sharplink Gaming

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Sharplink Gaming during the first quarter valued at $11,691,000. BNP Paribas Financial Markets lifted its holdings in Sharplink Gaming by 73.5% in the fourth quarter. BNP Paribas Financial Markets now owns 2,558,589 shares of the company’s stock worth $22,874,000 after purchasing an additional 1,083,956 shares during the period. Boundless Plain Holdings Ltd acquired a new stake in Sharplink Gaming in the fourth quarter worth about $8,150,000. Clear Street Group Inc. bought a new position in Sharplink Gaming in the 4th quarter valued at about $5,253,000. Finally, SG Americas Securities LLC increased its stake in Sharplink Gaming by 332.9% during the 1st quarter. SG Americas Securities LLC now owns 758,022 shares of the company’s stock valued at $4,889,000 after buying an additional 582,919 shares during the period. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Price Performance

Shares of SBET opened at $8.26 on Friday. The business’s fifty day moving average price is $7.12 and its 200 day moving average price is $6.73. Sharplink Gaming has a 12-month low of $4.46 and a 12-month high of $19.53. The stock has a market capitalization of $1.79 billion, a PE ratio of 165.20 and a beta of 10.56.

Sharplink Gaming (NASDAQ:SBET) last issued its 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). The business had revenue of $11.53 million during the quarter, compared to the consensus estimate of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. As a group, research analysts anticipate that Sharplink Gaming will post 0.12 earnings per share for the current fiscal year.

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.