Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

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Rush Street Interactive (NYSE:RSI - Get Free Report) had its price objective upped by equities researchers at Benchmark from $17.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's price target suggests a potential upside of 1.68% from the company's previous close.

A number of other equities analysts have also recently commented on RSI. Oppenheimer lifted their price target on Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday. Susquehanna reiterated a "positive" rating and issued a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Rush Street Interactive from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. began coverage on shares of Rush Street Interactive in a research note on Monday, June 23rd. They issued a "neutral" rating and a $14.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective on Rush Street Interactive from $17.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.89.

Rush Street Interactive Price Performance

NYSE:RSI traded up $0.32 on Thursday, hitting $19.67. 2,582,355 shares of the company's stock were exchanged, compared to its average volume of 1,959,105. The company has a market cap of $4.50 billion, a P/E ratio of 98.35 and a beta of 1.90. The firm has a 50-day moving average price of $14.55 and a 200-day moving average price of $13.14. Rush Street Interactive has a 52 week low of $8.52 and a 52 week high of $20.32.

Rush Street Interactive (NYSE:RSI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $269.22 million during the quarter, compared to analysts' expectations of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%. The business's quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, research analysts expect that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 193,905 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $15.39, for a total value of $2,984,197.95. Following the sale, the chief executive officer owned 1,017,471 shares of the company's stock, valued at approximately $15,658,878.69. This trade represents a 16.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mattias Stetz sold 30,000 shares of Rush Street Interactive stock in a transaction on Friday, August 1st. The shares were sold at an average price of $19.30, for a total value of $579,000.00. Following the completion of the transaction, the chief operating officer owned 291,051 shares in the company, valued at approximately $5,617,284.30. The trade was a 9.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,594,670 shares of company stock valued at $39,044,844. Corporate insiders own 56.89% of the company's stock.

Institutional Trading of Rush Street Interactive

Several large investors have recently bought and sold shares of the business. Heck Capital Advisors LLC bought a new stake in shares of Rush Street Interactive during the 4th quarter valued at approximately $34,000. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock worth $27,000 after acquiring an additional 1,232 shares during the last quarter. Farther Finance Advisors LLC acquired a new position in Rush Street Interactive in the 2nd quarter worth about $42,000. Summit Securities Group LLC bought a new position in Rush Street Interactive in the first quarter valued at about $33,000. Finally, GAMMA Investing LLC raised its position in Rush Street Interactive by 1,687.6% in the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after purchasing an additional 6,143 shares during the last quarter. 24.78% of the stock is 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.