Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Sharplink Gaming has a “Moderate Buy” consensus rating: Nine of 11 analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $16.50.
• Analyst views remain mixed, with Cantor Fitzgerald raising its target to $17, while Canaccord Genuity and TD Cowen lowered their targets to $8 and $13, respectively.
• Recent operating results fell short of expectations: Sharplink reported a quarterly loss of $1.88 per share versus an expected $0.01 profit, while revenue of $11.53 million missed the $12.26 million forecast. Institutional investors own 13.75% of the company.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $16.50.

Several brokerages recently weighed in on SBET. Weiss Ratings raised shares of Sharplink Gaming from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, July 6th. Cantor Fitzgerald boosted their target price on shares of Sharplink Gaming from $8.30 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday. Canaccord Genuity Group dropped their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. TD Cowen restated a "buy" rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Finally, Citizens Jmp reduced their price objective on shares of Sharplink Gaming to $30.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th.

Institutional Trading of Sharplink Gaming

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new stake in Sharplink Gaming in the 3rd quarter worth approximately $46,447,000. Alyeska Investment Group L.P. acquired a new position in Sharplink Gaming during the third quarter valued at approximately $42,509,000. Voloridge Investment Management LLC grew its holdings in Sharplink Gaming by 344.4% during the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company's stock valued at $24,240,000 after purchasing an additional 2,101,252 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Sharplink Gaming in the first quarter valued at approximately $11,691,000. Finally, Tidal Investments LLC bought a new position in shares of Sharplink Gaming in the third quarter valued at approximately $30,283,000. Institutional investors and hedge funds own 13.75% of the company's stock.

Sharplink Gaming Trading Down 1.3%

SBET opened at $8.43 on Friday. The stock has a fifty day moving average price of $6.82 and a 200 day moving average price of $6.67. Sharplink Gaming has a 1 year low of $4.46 and a 1 year high of $19.53. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 168.60 and a beta of 10.56.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($1.89). The firm had revenue of $11.53 million for 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%. As a group, sell-side analysts forecast that Sharplink Gaming will post 0.12 earnings per share for the current fiscal year.

Sharplink Gaming Company Profile

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.

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