Sharplink Gaming Inc. (NASDAQ:SBET) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Nine of 11 analysts rate Sharplink Gaming a buy, while one recommends holding and one recommends selling. The average 12-month price target is $17.00.
• Institutional interest has increased: Several hedge funds and institutional investors recently opened or expanded positions, with institutional ownership reaching 13.75% of outstanding shares.
• Financial results remain weak despite the bullish ratings: Sharplink reported a quarterly loss of $1.88 per share versus the expected $0.01 loss, revenue below estimates, and sharply negative profitability metrics.

Shares of Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $17.00.

Several research analysts have recently issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Sharplink Gaming in a research note on Friday. Canaccord Genuity Group decreased their price objective on Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating on the stock in a report on Tuesday, August 18th. B. Riley Financial restated a "buy" rating and set a $14.00 target price (up from $12.00) on shares of Sharplink Gaming in a report on Tuesday, September 22nd. TD Cowen reaffirmed a "buy" rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research report on Friday, July 31st. Finally, Citizens Jmp dropped their price target on shares of Sharplink Gaming to $30.00 and set a "market outperform" rating for the company in a research report on Thursday, July 9th.

Hedge Funds Weigh In On Sharplink Gaming

A number of institutional investors and hedge funds have recently modified their holdings of SBET. Renaissance Technologies LLC acquired a new stake in Sharplink Gaming in the 1st quarter worth about $11,691,000. Clear Street Group Inc. purchased a new position in shares of Sharplink Gaming in the 4th quarter valued at $5,253,000. SG Americas Securities LLC lifted its stake in shares of Sharplink Gaming by 332.9% during the first quarter. SG Americas Securities LLC now owns 758,022 shares of the company's stock worth $4,889,000 after purchasing an additional 582,919 shares in the last quarter. Lakewood Capital Management LP acquired a new position in Sharplink Gaming during the 2nd quarter worth approximately $2,683,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Sharplink Gaming in the second quarter valued at $2,488,000. Institutional investors and hedge funds own 13.75% of the company's stock.

Sharplink Gaming Price Performance

Shares of SBET stock opened at $9.59 on Tuesday. The company's fifty day moving average price is $8.01 and its 200-day moving average price is $6.89. Sharplink Gaming has a one year low of $4.46 and a one year high of $19.53. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 191.80 and a beta of 10.60.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its 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 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%. Equities research analysts expect that Sharplink Gaming will post 0.12 earnings per share for the current fiscal year.

About Sharplink Gaming

SharpLink Gaming Ltd. NASDAQ: SBET is a technology and digital marketing company serving the online sports betting and iGaming industries. Its platform is designed to help sportsbook and casino operators acquire, engage and retain customers through performance marketing, affiliate partnerships, data-driven campaigns and conversion tools.

The company has historically focused on connecting sports audiences with licensed online betting and gaming operators, supporting customer referral programs and related marketing initiatives.

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