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

Key Points

• Analysts rate Rush Street Interactive a “Moderate Buy”: Of 16 analysts, 10 recommend buying, five rate it a hold and one gives it a strong buy; the average 12-month price target is $26.46.
• Quarterly results were mixed: RSI earned $0.15 per share, beating estimates of $0.13, while revenue of $385.85 million fell short of forecasts. Revenue grew 38.8% year over year.
• Insider trades went in different directions: CFO Kyle Sauers sold 23,000 shares under a pre-arranged trading plan, while Director Thomas Winter bought 10,000 shares.

Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen analysts that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $26.46.

Several equities research analysts recently weighed in on RSI shares. Barclays decreased their price target on Rush Street Interactive from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Needham & Company LLC dropped their target price 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, October 29th. Benchmark increased their target price on shares of Rush Street Interactive from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Weiss Ratings downgraded Rush Street Interactive from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Wall Street Zen upgraded Rush Street Interactive from a "hold" rating to a "buy" rating in a research note on Saturday, October 31st.

Rush Street Interactive Stock Performance

Shares of RSI stock opened at $12.26 on Friday. The firm's 50-day simple moving average is $20.11 and its two-hundred day simple moving average is $23.56. Rush Street Interactive has a 52 week low of $11.27 and a 52 week high of $34.53. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 37.14 and a beta of 1.80.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its earnings results on Wednesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Analysts forecast that Rush Street Interactive will post 0.49 earnings per share for the current year.

Insider Buying and Selling

In other Rush Street Interactive news, CFO Kyle Sauers sold 23,000 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $12.00, for a total transaction of $276,000.00. Following the transaction, the chief financial officer owned 555,417 shares of the company's stock, valued at $6,665,004. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas Winter purchased 10,000 shares of the company's stock in a transaction on Monday, November 2nd. The stock was purchased at an average price of $11.83 per share, for a total transaction of $118,300.00. Following the purchase, the director directly owned 30,497 shares of the company's stock, valued at $360,779.51. This trade represents a 48.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 425,664 shares of company stock valued at $9,480,199 in the last 90 days. Corporate insiders own 52.89% of the company's stock.

Institutional Trading of Rush Street Interactive

A number of hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co lifted its holdings in Rush Street Interactive by 56.1% during the third quarter. Diversified Trust Co now owns 52,051 shares of the company's stock valued at $1,058,000 after purchasing an additional 18,697 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in Rush Street Interactive by 69.6% during the third quarter. Maryland State Retirement & Pension System now owns 25,807 shares of the company's stock valued at $525,000 after purchasing an additional 10,589 shares during the period. Jacobi Capital Management LLC purchased a new stake in shares of Rush Street Interactive during the third quarter worth $35,000. Illinois Municipal Retirement Fund acquired a new stake in shares of Rush Street Interactive in the third quarter valued at $1,049,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Rush Street Interactive by 3.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,587 shares of the company's stock valued at $630,000 after purchasing an additional 1,199 shares during the period. Institutional investors and hedge funds own 24.78% of the company's stock.

About Rush Street Interactive

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.