Rush Street Interactive (NYSE:RSI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased the target price for Rush Street Interactive (RSI) from $16.00 to $18.00, maintaining a "neutral" rating, which suggests a potential downside of 12.22% from its current price.
• Rush Street Interactive reported a quarterly earnings beat with $0.11 earnings per share (EPS) against an estimate of $0.08, alongside revenue of $269.22 million, up 22.2% year-over-year.
• Insider selling activity includes significant shares sold by CFO Kyle Sauers and COO Mattias Stetz, indicating a collective decrease in ownership as insiders sold a total of 1,477,847 shares in the last 90 days.

Rush Street Interactive (NYSE:RSI - Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $16.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 12.22% from the company's current price.

RSI has been the subject of several other research reports. Wall Street Zen lowered shares of Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Rush Street Interactive in a research report on Monday. Oppenheimer increased their price objective on shares of Rush Street Interactive from $16.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Benchmark increased their price objective on shares of Rush Street Interactive from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Zacks Research lowered shares of Rush Street Interactive from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.78.

Rush Street Interactive Stock Performance

Shares of RSI opened at $20.51 on Thursday. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 102.53 and a beta of 1.87. The company's 50 day simple moving average is $20.51 and its 200 day simple moving average is $15.81. Rush Street Interactive has a 1 year low of $9.54 and a 1 year high of $22.65.

Rush Street Interactive (NYSE:RSI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. The company's quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. Equities analysts expect that Rush Street Interactive will post 0.04 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kyle Sauers sold 15,038 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $22.34, for a total transaction of $335,948.92. Following the completion of the sale, the chief financial officer directly owned 418,651 shares of the company's stock, valued at approximately $9,352,663.34. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mattias Stetz sold 30,000 shares of the firm's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $20.10, for a total transaction of $603,000.00. Following the sale, the chief operating officer directly owned 224,806 shares of the company's stock, valued at approximately $4,518,600.60. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,477,847 shares of company stock valued at $28,465,288 in the last 90 days. Company insiders own 56.94% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in Rush Street Interactive by 94.7% during the 1st quarter. Pacer Advisors Inc. now owns 2,533 shares of the company's stock valued at $27,000 after acquiring an additional 1,232 shares during the last quarter. Summit Securities Group LLC bought a new position in Rush Street Interactive during the 1st quarter valued at $33,000. Farther Finance Advisors LLC bought a new position in Rush Street Interactive during the 2nd quarter valued at $42,000. GAMMA Investing LLC boosted its stake in Rush Street Interactive by 1,687.6% during the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after acquiring an additional 6,143 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Rush Street Interactive by 62.2% during the 2nd quarter. Osaic Holdings Inc. now owns 4,872 shares of the company's stock valued at $73,000 after acquiring an additional 1,868 shares during the last quarter. 24.78% of the stock is currently owned by institutional investors.

About Rush Street Interactive

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.

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