Rush Street Interactive (NYSE:RSI) Price Target Increased to $10.00 by Analysts at Needham & Company LLC

Rush Street Interactive (NYSE:RSI - Free Report) had its price target boosted by Needham & Company LLC from $9.00 to $10.00 in a research note released on Friday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

RSI has been the topic of several other reports. Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $8.00 to $9.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Oppenheimer lifted their price objective on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. JMP Securities reiterated a market perform rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $8.00 to $10.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, Susquehanna reiterated a neutral rating and issued a $6.00 price objective (up from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $8.50.

Rush Street Interactive Stock Performance

Shares of Rush Street Interactive stock traded up $0.04 during trading hours on Friday, reaching $8.68. The company's stock had a trading volume of 688,329 shares, compared to its average volume of 1,302,488. The company's 50 day simple moving average is $6.85 and its 200 day simple moving average is $5.47. Rush Street Interactive has a one year low of $2.88 and a one year high of $8.97. The stock has a market cap of $1.95 billion, a P/E ratio of -51.06 and a beta of 1.67.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The company had revenue of $193.85 million for the quarter, compared to the consensus estimate of $181.50 million. On average, sell-side analysts predict that Rush Street Interactive will post -0.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 38,687 shares of the business's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total transaction of $225,545.21. Following the sale, the chief executive officer now directly owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Richard Todd Schwartz sold 38,687 shares of Rush Street Interactive stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $225,545.21. Following the transaction, the chief executive officer now directly owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kyle Sauers sold 15,983 shares of the company's stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total value of $97,656.13. Following the sale, the chief financial officer now directly owns 550,174 shares of the company's stock, valued at $3,361,563.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 331,552 shares of company stock worth $2,094,498. 56.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. increased its position in shares of Rush Street Interactive by 250.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company's stock worth $228,000 after acquiring an additional 25,000 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Rush Street Interactive in the 1st quarter valued at approximately $403,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Rush Street Interactive during the 1st quarter worth approximately $1,673,000. Vanguard Group Inc. raised its stake in Rush Street Interactive by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,481,219 shares of the company's stock valued at $35,683,000 after purchasing an additional 85,736 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Rush Street Interactive in the first quarter valued at $148,000. 24.78% of the stock is currently owned by institutional investors and hedge funds.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.