Rush Street Interactive, Inc. (RSI) - What Are Analysts Saying About This Stock?

Key Points

• Analysts remain generally bullish: Rush Street Interactive has a “Moderate Buy” consensus from 14 analysts, including 10 buys, three holds, and one strong buy. The average 12-month price target is $34.20.
• Recent results exceeded expectations: The company reported quarterly revenue of $393.78 million versus a $367.75 million consensus estimate, with revenue up 46.3% year over year and EPS in line at $0.15.
• Insiders have been selling shares while institutions add exposure: Executives sold roughly $14.8 million of stock over the past 90 days, while major investors including BlackRock and William Blair initiated sizable positions. Institutional investors and hedge funds own 24.78% of the company.

Shares of Rush Street Interactive, Inc. (NYSE:RSI - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $34.20.

A number of brokerages have issued reports on RSI. Citigroup reaffirmed a "market outperform" rating on shares of Rush Street Interactive in a research note on Tuesday, September 22nd. Oppenheimer lifted their price target on Rush Street Interactive from $30.00 to $36.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Rush Street Interactive from $26.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Needham & Company LLC upped their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of Rush Street Interactive from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Thursday, July 30th.

Rush Street Interactive Stock Performance

NYSE:RSI opened at $18.64 on Tuesday. Rush Street Interactive has a one year low of $15.51 and a one year high of $34.53. The stock has a market cap of $4.32 billion, a PE ratio of 64.28 and a beta of 1.71. The stock has a 50 day moving average price of $24.00 and a 200 day moving average price of $26.23.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The firm had revenue of $393.78 million for the quarter, compared to the consensus estimate of $367.75 million. Rush Street Interactive had a return on equity of 18.88% and a net margin of 2.33%. The firm's revenue was up 46.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. As a group, analysts predict that Rush Street Interactive will post 0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, CFO Kyle Sauers sold 23,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total value of $610,880.00. Following the transaction, the chief financial officer directly owned 606,526 shares in the company, valued at $16,109,330.56. The trade was a 3.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Mattias Stetz sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $25.68, for a total transaction of $513,600.00. Following the completion of the sale, the chief operating officer directly owned 157,874 shares of the company's stock, valued at approximately $4,054,204.32. This trade represents a 11.24% decrease in their position. 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 have sold 603,998 shares of company stock valued at $14,814,268 over the last ninety days. Company insiders own 52.89% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RSI. BlackRock Inc. acquired a new position in shares of Rush Street Interactive in the 2nd quarter valued at $448,435,000. William Blair Investment Management LLC purchased a new position in shares of Rush Street Interactive during the 2nd quarter worth $48,647,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Rush Street Interactive by 84.7% during 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 during the period. Bank of America Corp DE acquired a new stake in shares of Rush Street Interactive during the 2nd quarter worth about $34,015,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Rush Street Interactive during the 1st quarter worth about $24,874,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

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 consumer-facing brands include BetRivers and PlaySugarHouse, which offer online casino games, sports wagering, and related digital gaming services where permitted by local regulations.

The company serves customers in multiple regulated markets across the United States and Latin America. Its operations have included online sports betting and casino gaming in U.S.

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