Sharplink Gaming (NASDAQ:SBET) Earns Market Outperform Rating from Analysts at JMP Securities

Key Points

• Sharplink Gaming has received a "market outperform" rating from JMP Securities, with a target price of $50.00, suggesting a potential upside of 230.03% from its current price.
• Three analysts have rated the stock with a Buy rating, while one has given it a Sell rating, leading to a consensus rating of "Moderate Buy" and an average price target of $49.00.
• Insiders have sold a total of 55,002 shares of Sharplink Gaming in the past three months, indicating a potential decrease in confidence among company executives.

Equities researchers at JMP Securities initiated coverage on shares of Sharplink Gaming (NASDAQ:SBET - Get Free Report) in a note issued to investors on Thursday,Benzinga reports. The brokerage set a "market outperform" rating and a $50.00 price target on the stock. JMP Securities' target price indicates a potential upside of 230.03% from the company's current price.

Several other research firms have also recently weighed in on SBET. Alliance Global Partners assumed coverage on shares of Sharplink Gaming in a research note on Tuesday, August 26th. They issued a "buy" rating and a $48.00 target price for the company. B. Riley started coverage on shares of Sharplink Gaming in a research report on Wednesday. They issued a "buy" rating for the company. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.00.

Sharplink Gaming Price Performance

Shares of Sharplink Gaming stock opened at $15.15 on Thursday. The company's fifty day moving average price is $18.11 and its two-hundred day moving average price is $16.15. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12.

Sharplink Gaming (NASDAQ:SBET - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.64) EPS for the quarter. The company had revenue of $0.70 million for the quarter. Sharplink Gaming had a negative return on equity of 15.93% and a negative net margin of 3,377.39%.

Insider Buying and Selling at Sharplink Gaming

In other news, Director Robert M. Gutkowski sold 18,334 shares of Sharplink Gaming stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total transaction of $351,462.78. Following the sale, the director directly owned 24,998 shares in the company, valued at $479,211.66. The trade was a 42.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Obie Mckenzie sold 18,334 shares of Sharplink Gaming stock in a transaction on Monday, August 18th. The stock was sold at an average price of $19.17, for a total value of $351,462.78. Following the sale, the director owned 24,998 shares in the company, valued at $479,211.66. The trade was a 42.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,002 shares of company stock worth $1,054,388. Corporate insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in SBET. NewEdge Advisors LLC purchased a new stake in Sharplink Gaming in the second quarter worth $101,000. Qube Research & Technologies Ltd purchased a new stake in Sharplink Gaming in the second quarter worth $151,000. S.A. Mason LLC purchased a new stake in Sharplink Gaming in the third quarter worth $249,000. HUB Investment Partners LLC purchased a new stake in Sharplink Gaming in the second quarter worth $298,000. Finally, Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Sharplink Gaming in the third quarter worth $407,000. Institutional investors own 13.75% of the company's stock.

Sharplink Gaming Company Profile

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.

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