Sharplink Gaming Inc. (NASDAQ:SBET) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Sharplink Gaming has a consensus analyst rating of “Moderate Buy”, based on coverage from 10 analysts. The average 12-month price target is about $22.11.
• Recent analyst actions have been mixed, with Citizens JMP cutting its target to $40, B. Riley lowering its target to $10, and Cantor Fitzgerald upgrading the stock to a strong-buy rating.
• The company recently reported earnings of $0.06 per share, beating estimates, but revenue of $13.31 million came in below expectations. The stock was trading around $7.44, well below its 52-week high of $124.12.

Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) has been given an average recommendation of "Moderate Buy" by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $22.1111.

SBET has been the topic of a number of research analyst reports. Citizens Jmp cut their price target on shares of Sharplink Gaming from $50.00 to $40.00 and set a "market outperform" rating on the stock in a report on Wednesday, March 11th. Cantor Fitzgerald raised shares of Sharplink Gaming to a "strong-buy" rating in a report on Thursday, April 9th. Weiss Ratings reissued a "sell (d)" rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. B. Riley Financial cut their price target on shares of Sharplink Gaming from $19.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, February 23rd. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $16.00 price target on shares of Sharplink Gaming in a report on Tuesday, March 17th.

Sharplink Gaming Stock Performance

Shares of NASDAQ:SBET opened at $7.44 on Friday. The company's 50-day moving average is $7.21 and its 200 day moving average is $9.03. The company has a market capitalization of $1.47 billion, a P/E ratio of -3.11 and a beta of 10.69. Sharplink Gaming has a fifty-two week low of $2.58 and a fifty-two week high of $124.12.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.11. The company had revenue of $13.31 million for the quarter, compared to the consensus estimate of $17.19 million. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. As a group, research analysts predict that Sharplink Gaming will post 0.1 earnings per share for the current year.

Institutional Investors Weigh In On Sharplink Gaming

Several institutional investors have recently added to or reduced their stakes in SBET. Caitong International Asset Management Co. Ltd purchased a new stake in Sharplink Gaming during the third quarter valued at about $49,000. Empowered Funds LLC purchased a new stake in Sharplink Gaming during the fourth quarter valued at about $56,000. Independent Financial Group LLC purchased a new stake in Sharplink Gaming during the first quarter valued at about $65,000. Koshinski Asset Management Inc. purchased a new stake in Sharplink Gaming during the first quarter valued at about $71,000. Finally, R Squared Ltd purchased a new stake in Sharplink Gaming during the fourth quarter valued at about $90,000. 13.75% of the stock is owned by hedge funds and other institutional investors.

About Sharplink Gaming

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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