Sharplink Gaming Inc. (NASDAQ:SBET) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• "Moderate Buy" is the consensus from 10 analysts (1 sell, 1 hold, 7 buy, 1 strong buy) with an average 12‑month price target of $22.11.
• Shares opened at $6.70, trade in a 1‑year range of $2.26–$124.12 with a market cap of about $1.32B, a negative P/E (-2.80) and high volatility (beta 11.31); the company beat quarterly EPS ($0.06 vs. -$0.05 estimate) but missed revenue expectations and still reports deeply negative margins and ROE.
• Invesco Ltd. materially increased its position to 2.73M shares (~$24.4M) in Q4, and institutional investors now own roughly 13.75% of the company amid several other new or increased institutional stakes.

Shares of Sharplink Gaming Inc. (NASDAQ:SBET - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $22.1111.

Several research firms have recently issued reports on SBET. B. Riley Financial decreased their price target on Sharplink Gaming from $19.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Citizens Jmp decreased their target price on Sharplink Gaming from $50.00 to $40.00 and set a "market outperform" rating for the company in a research note on Wednesday, March 11th. Cantor Fitzgerald raised Sharplink Gaming to a "strong-buy" rating in a research note on Thursday, April 9th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 target price on shares of Sharplink Gaming in a research note on Tuesday, March 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. bought a new position in Sharplink Gaming during the fourth quarter valued at about $434,000. Hsbc Holdings PLC boosted its stake in Sharplink Gaming by 12.6% during the fourth quarter. Hsbc Holdings PLC now owns 99,001 shares of the company's stock valued at $867,000 after buying an additional 11,114 shares in the last quarter. Invesco Ltd. boosted its stake in Sharplink Gaming by 165.9% during the fourth quarter. Invesco Ltd. now owns 2,734,052 shares of the company's stock valued at $24,442,000 after buying an additional 1,706,011 shares in the last quarter. Empowered Funds LLC bought a new position in Sharplink Gaming during the fourth quarter valued at about $56,000. Finally, XTX Topco Ltd bought a new position in Sharplink Gaming during the fourth quarter valued at about $871,000. Institutional investors own 13.75% of the company's stock.

Sharplink Gaming Stock Performance

NASDAQ:SBET opened at $6.70 on Tuesday. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -2.80 and a beta of 11.31. The business has a fifty day moving average of $6.99 and a 200-day moving average of $10.07.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last released its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.11. Sharplink Gaming had a negative return on equity of 50.72% and a negative net margin of 2,618.38%.The company had revenue of $13.31 million during the quarter, compared to analysts' expectations of $17.19 million.

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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