Sharplink Gaming (NASDAQ:SBET) Coverage Initiated at TD Cowen

Key Points

• TD Cowen initiated coverage with a Buy rating and a $16 price target, implying roughly 149% upside from the prior close.
• The analyst consensus is a Moderate Buy (1 Strong Buy, 7 Buy, 1 Hold, 1 Sell) with an average price target of $22.11, signaling further upside expectations amid mixed opinions.
• Shares trade near $6.42 with very high volatility (beta ~11.31) and a market cap of about $1.27B; the company beat EPS but missed revenue and reports an extremely negative net margin and ROE, underscoring execution and scale risks.

Stock analysts at TD Cowen initiated coverage on shares of Sharplink Gaming (NASDAQ:SBET - Get Free Report) in a research note issued on Friday. The firm set a "buy" rating and a $16.00 price target on the stock. TD Cowen's price objective indicates a potential upside of 149.22% from the company's previous close.

Several other brokerages also recently weighed in on SBET. Wall Street Zen raised shares of Sharplink Gaming from a "sell" rating to a "hold" rating in a report on Saturday, March 14th. Cantor Fitzgerald raised shares of Sharplink Gaming to a "strong-buy" rating in a report on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Sharplink Gaming in a report on Tuesday, March 17th. Finally, Citizens Jmp dropped their target price on Sharplink Gaming from $50.00 to $40.00 and set a "market outperform" rating on the stock in a research report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.11.

Sharplink Gaming Price Performance

Shares of NASDAQ SBET opened at $6.42 on Friday. The stock has a fifty day moving average price of $7.06 and a 200 day moving average price of $10.30. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12. The company has a market cap of $1.27 billion, a PE ratio of -2.69 and a beta of 11.31.

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

Hedge Funds Weigh In On Sharplink Gaming

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming in the third quarter valued at about $49,000. Empowered Funds LLC acquired a new position in Sharplink Gaming during the fourth quarter worth about $56,000. R Squared Ltd purchased a new position in Sharplink Gaming in the fourth quarter valued at about $90,000. Abacus Planning Group Inc. purchased a new position in Sharplink Gaming in the fourth quarter valued at about $94,000. Finally, CI Investments Inc. acquired a new stake in shares of Sharplink Gaming during the 4th quarter valued at approximately $100,000. 13.75% of the stock is owned by institutional investors and hedge funds.

Sharplink Gaming News Roundup

Here are the key news stories impacting Sharplink Gaming this week:

• Positive Sentiment: Cantor Fitzgerald upgraded Sharplink to a “strong‑buy,” supporting near‑term buying interest and signaling confidence from a major sell‑side firm. Zacks: Cantor Fitzgerald Upgrade
• Positive Sentiment: HC Wainwright initiated coverage (Buy) with a $10 price target and published multi‑quarter EPS forecasts (Q1–Q4 2026 ~ $0.04–$0.05; FY2026 $0.18; FY2027 $0.15). The initiation and constructive estimates provide a clearer path to profitability that supports the stock’s upside narrative. American Banking News: HC Wainwright Coverage
• Neutral Sentiment: Technical/valuation context: SBET opened at $6.42 vs. a 50‑day SMA of $7.06 and 200‑day SMA of $10.30; market cap ≈ $1.27B; very high beta (~11.3) means larger intraday moves — the $10 target implies meaningful upside but also highlights volatility and execution risk.
• Negative Sentiment: Recent fundamentals are mixed: the company beat EPS in its March quarter but missed revenue and still reports extreme negative margins and a negative ROE, underscoring operational/scale challenges that could limit sustained gains absent improving top‑line trends. MarketBeat: SBET Financials & Earnings

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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