Sharplink Gaming (NASDAQ:SBET) Shares Gap Up - Time to Buy?

Key Points

• SharpLink Gaming shares rose 11.8%, opening at $8.64 versus a prior close of $8.26 and last trading near $8.83, with more than 1.57 million shares changing hands.
• Analyst sentiment is broadly positive, with nine Buy ratings, one Hold and one Sell producing a “Moderate Buy” consensus and a $16.50 average price target. However, individual targets vary widely, from $8.00 to $17.00.
• The company reported a significant quarterly loss of $1.88 per share versus expectations for a $0.01 profit, while revenue also missed estimates; its negative net margin was 3,406.29%, underscoring substantial financial risk despite recent institutional buying.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $8.26, but opened at $8.64. Sharplink Gaming shares last traded at $8.8280, with a volume of 1,570,173 shares.

Analysts Set New Price Targets

SBET has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Sharplink Gaming from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. Wall Street Zen upgraded Sharplink Gaming from a "strong sell" rating to a "sell" rating in a research note on Sunday, August 30th. Cantor Fitzgerald lifted their price target on Sharplink Gaming from $8.30 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, September 10th. Canaccord Genuity Group dropped their price target on Sharplink Gaming from $16.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Finally, Citigroup reiterated a "market outperform" rating on shares of Sharplink Gaming in a research note on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.50.

Sharplink Gaming Trading Up 11.8%

The firm has a market cap of $2.01 billion, a PE ratio of 183.00 and a beta of 10.56. The company has a 50-day simple moving average of $7.12 and a 200 day simple moving average of $6.73.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last posted its earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.89). The firm had revenue of $11.53 million during the quarter, compared to analyst estimates of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. On average, equities analysts expect that Sharplink Gaming Inc. will post 0.12 earnings per share for the current year.

Institutional Investors Weigh In On Sharplink Gaming

Hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd purchased a new position in shares of Sharplink Gaming in the 2nd quarter valued at about $129,000. Ameritas Advisory Services LLC purchased a new position in Sharplink Gaming during the second quarter worth approximately $66,000. Compass Financial Management LLC purchased a new position in Sharplink Gaming during the second quarter worth approximately $1,110,000. Headlands Technologies LLC purchased a new position in Sharplink Gaming during the second quarter worth approximately $1,341,000. Finally, Lakewood Capital Management LP acquired a new stake in Sharplink Gaming in the second quarter valued at approximately $2,683,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

About Sharplink Gaming

SharpLink Gaming Ltd. is a sports betting and iGaming technology company that provides performance marketing and user-acquisition solutions. Its platform helps online sportsbook and casino operators connect with customers through digital marketing, affiliate partnerships, and data-driven player acquisition programs.

The company's activities have historically included sports betting content, affiliate marketing, and technology services designed to support online gaming operators and their customers.

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