HC Wainwright Begins Coverage on Sharplink Gaming (NASDAQ:SBET)

Key Points

• HC Wainwright initiated coverage on Sharplink Gaming with a Buy rating and a $10.00 price target, implying roughly a 56.7% upside from the stock's prior close.
• Analyst sentiment is a "Moderate Buy" (seven Buys, one Hold, one Sell) with an average target of $22.88, though individual targets vary widely (reports range from about $15 up to $40 previously).
• Shares opened at $6.38 and remain volatile (12‑month range $2.26–$124.12); the company has a negative PE and high beta, and its latest quarter showed an EPS beat but revenue miss alongside very negative net margin and return on equity.

Equities researchers at HC Wainwright initiated coverage on shares of Sharplink Gaming (NASDAQ:SBET - Get Free Report) in a research note issued on Tuesday,Benzinga reports. The firm set a "buy" rating and a $10.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 56.74% from the stock's previous close.

A number of other research analysts have also recently issued reports on the stock. Cantor Fitzgerald began coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They issued an "overweight" rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 target price on shares of Sharplink Gaming in a report on Tuesday, March 17th. iA Financial set a $20.00 target price on shares of Sharplink Gaming in a report on Wednesday, January 7th. Finally, Citizens Jmp dropped their target price on shares of Sharplink Gaming from $50.00 to $40.00 and set a "market outperform" rating for the company in a report on Wednesday, March 11th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.88.

Sharplink Gaming Trading Up 3.1%

Shares of Sharplink Gaming stock opened at $6.38 on Tuesday. Sharplink Gaming has a 12-month low of $2.26 and a 12-month high of $124.12. The stock has a market cap of $1.26 billion, a PE ratio of -2.67 and a beta of 11.31. The company has a 50-day moving average of $7.26 and a two-hundred day moving average of $10.44.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its earnings results on Friday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The company had revenue of $13.31 million during the quarter, compared to analysts' expectations of $17.19 million.

Institutional Trading of Sharplink Gaming

Several large investors have recently modified their holdings of SBET. JPMorgan Chase & Co. acquired a new stake in shares of Sharplink Gaming in the second quarter valued at approximately $3,229,000. Qube Research & Technologies Ltd acquired a new stake in Sharplink Gaming during the second quarter worth approximately $151,000. NewEdge Advisors LLC acquired a new stake in Sharplink Gaming during the second quarter worth approximately $101,000. HUB Investment Partners LLC acquired a new stake in Sharplink Gaming during the second quarter worth approximately $298,000. Finally, Anatole Investment Management Ltd acquired a new stake in Sharplink Gaming during the second quarter worth approximately $6,332,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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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