Rush Street Interactive (NYSE:RSI) Given New $26.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut Rush Street Interactive’s price target from $36 to $26 while maintaining an “overweight” rating, implying roughly 75% upside from the prior close. The consensus rating remains “Moderate Buy,” with an average target of $28.67.
• RSI reported third-quarter EPS of $0.15, above the $0.13 estimate and up from $0.09 a year earlier, while revenue rose 38.8% to $385.85 million. Revenue narrowly missed consensus, and management indicated 2026 results could land toward the low end of its forecast.
• Shares opened at $14.88, near the company’s 52-week low of $13.57 and well below its 52-week high of $34.53. Other analysts also lowered price targets, although most retained Buy or Outperform-equivalent ratings.

Rush Street Interactive (NYSE:RSI - Get Free Report) had its price target cut by equities researchers at Wells Fargo & Company from $36.00 to $26.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 74.72% from the stock's previous close.

A number of other brokerages also recently weighed in on RSI. Citigroup restated a "market outperform" rating on shares of Rush Street Interactive in a research note on Thursday. Wall Street Zen downgraded Rush Street Interactive from a "buy" rating to a "hold" rating in a research note on Saturday, October 17th. Needham & Company LLC cut their price target on shares of Rush Street Interactive from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Thursday. Stifel Nicolaus decreased their price objective on shares of Rush Street Interactive from $34.00 to $30.00 and set a "buy" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rush Street Interactive from $30.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.67.

Rush Street Interactive Trading Down 1.6%

Rush Street Interactive stock opened at $14.88 on Thursday. The firm's fifty day moving average price is $22.03 and its two-hundred day moving average price is $23.80. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 51.37 and a beta of 1.71. Rush Street Interactive has a 1-year low of $13.57 and a 1-year high of $34.53.

Rush Street Interactive (NYSE:RSI - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The business had revenue of $385.85 million during the quarter, compared to the consensus estimate of $388.05 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The company's quarterly revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS. On average, research analysts forecast that Rush Street Interactive will post 0.49 EPS for the current year.

Insider Transactions at Rush Street Interactive

In other news, COO Mattias Stetz sold 20,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the sale, the chief operating officer directly owned 157,874 shares in the company, valued at approximately $4,054,204.32. This represents a 11.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,112 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $28.02, for a total value of $3,113,358.24. Following the sale, the chief executive officer directly owned 421,258 shares in the company, valued at $11,803,649.16. This represents a 20.87% decrease in their ownership of the stock. 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. Insiders sold 603,998 shares of company stock valued at $14,814,268 over the last three months. Company insiders own 52.89% of the company's stock.

Institutional Investors Weigh In On Rush Street Interactive

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Rush Street Interactive in the 2nd quarter valued at $448,435,000. Arrowstreet Capital Limited Partnership lifted its stake in Rush Street Interactive by 84.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,764,173 shares of the company's stock worth $60,121,000 after purchasing an additional 1,267,622 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Rush Street Interactive by 15.9% in the 1st quarter. Renaissance Technologies LLC now owns 2,285,000 shares of the company's stock worth $49,699,000 after purchasing an additional 312,700 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $48,647,000. Finally, Bank of America Corp DE acquired a new position in shares of Rush Street Interactive during the 2nd quarter worth approximately $34,015,000. 24.78% of the stock is currently owned by hedge funds and other institutional investors.

Rush Street Interactive News Summary

Here are the key news stories impacting Rush Street Interactive this week:

• Positive Sentiment: RSI reported third-quarter earnings of $0.15 per share, exceeding the $0.13 consensus estimate and improving from $0.09 a year earlier. Net income rose 93% to $28.7 million, while adjusted EBITDA increased 73% to $62.2 million. Rush Street Interactive Announces Third Quarter 2026 Results and Reiterates Full Year Guidance
• Positive Sentiment: Quarterly revenue climbed 39% year over year to $385.9 million, and the company reported record North American monthly active users. Online casino operations generated approximately 75% of total revenue, highlighting RSI’s higher-margin casino exposure. Rush Street Interactive: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Needham maintained a “buy” rating and Oppenheimer retained an “outperform” rating. Each firm set a $25 target, implying substantial potential upside from recent levels despite cutting its target from $36. Oppenheimer recommendations
• Neutral Sentiment: RSI reiterated its 2026 revenue outlook of $1.56 billion to $1.60 billion and maintained its full-year adjusted EBITDA guidance, preserving management’s broader forecast.
• Negative Sentiment: Revenue of $385.9 million fell short of the approximately $388.1 million analyst consensus. Management also said October trends point toward the low end of its annual revenue range, raising concerns about near-term growth momentum. Rush Street Interactive reiterates 2026 revenue outlook
• Negative Sentiment: The cuts in analyst price targets indicate that expectations have been reset after the earnings report, even though both analysts continue to recommend buying the stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc is an online gaming and sports betting company that operates regulated internet casino and sportsbook platforms. Its primary consumer brands include BetRivers, PlaySugarHouse and RushBet, offering online casino games, sports wagering and related digital gaming products through websites and mobile applications.

The company serves customers in regulated markets across the United States and Latin America, with operations also extending to select international jurisdictions.

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