Wells Fargo & Company Raises Rush Street Interactive (NYSE:RSI) Price Target to $29.00

Key Points

• Wells Fargo raised its price target on Rush Street Interactive to $29 (from $26) and kept an overweight rating, joining other brokers that have lifted targets and leaving the consensus as a "Moderate Buy" with an average target near $26.56.
• Rush Street reported a strong Q1 beat — EPS $0.14 vs. $0.12 and revenue $370.4M (+41% y/y) — and raised FY2026 revenue and adjusted EBITDA guidance, helping the stock jump about 16.3% to $27.90 intraday.
• Despite positive results, there are warning signs: insiders have sold large blocks of shares recently (1,239,588 shares in the last 90 days) and the stock trades at a high P/E (~99x), presenting valuation and execution risks for further multiple expansion.

Rush Street Interactive (NYSE:RSI - Get Free Report) had its target price lifted by research analysts at Wells Fargo & Company from $26.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective indicates a potential upside of 3.93% from the company's previous close.

Several other brokerages have also recently issued reports on RSI. Oppenheimer restated an "outperform" rating and set a $30.00 price objective on shares of Rush Street Interactive in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on Rush Street Interactive from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, April 16th. Wall Street Zen cut Rush Street Interactive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 21st. Citizens Jmp raised their target price on shares of Rush Street Interactive from $24.00 to $25.00 and gave the stock a "market outperform" rating in a report on Wednesday, April 8th. Finally, Susquehanna boosted their price objective on Rush Street Interactive from $25.00 to $29.00 and gave the company a "positive" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Rush Street Interactive currently has a consensus rating of "Moderate Buy" and an average target price of $26.56.

Rush Street Interactive Trading Up 16.3%

RSI stock traded up $3.90 during midday trading on Wednesday, hitting $27.90. 2,417,708 shares of the company's stock were exchanged, compared to its average volume of 1,914,719. The firm has a 50 day moving average price of $21.28 and a 200-day moving average price of $19.33. Rush Street Interactive has a 12-month low of $11.12 and a 12-month high of $29.00. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 99.76 and a beta of 1.45.

Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Rush Street Interactive had a net margin of 2.94% and a return on equity of 17.95%. The firm had revenue of $370.36 million for the quarter, compared to analysts' expectations of $327.76 million. During the same period in the prior year, the company posted $0.09 earnings per share. The firm's quarterly revenue was up 41.1% on a year-over-year basis. On average, sell-side analysts forecast that Rush Street Interactive will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mattias Stetz sold 29,725 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $20.07, for a total transaction of $596,580.75. Following the transaction, the chief operating officer directly owned 8,495 shares of the company's stock, valued at approximately $170,494.65. This trade represents a 77.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Todd Schwartz sold 247,114 shares of the company's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $17.61, for a total value of $4,351,677.54. Following the completion of the sale, the chief executive officer owned 949,048 shares of the company's stock, valued at approximately $16,712,735.28. This trade represents a 20.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,239,588 shares of company stock worth $24,025,669. 56.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rush Street Interactive

A number of institutional investors and hedge funds have recently modified their holdings of RSI. Concord Wealth Partners purchased a new position in Rush Street Interactive in the 3rd quarter worth about $41,000. Kemnay Advisory Services Inc. purchased a new position in shares of Rush Street Interactive in the fourth quarter worth approximately $47,000. Empowered Funds LLC acquired a new stake in shares of Rush Street Interactive during the fourth quarter valued at approximately $55,000. Osaic Holdings Inc. lifted its position in shares of Rush Street Interactive by 62.2% in 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 in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Rush Street Interactive in the 2nd quarter valued at approximately $90,000. 24.78% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Rush Street Interactive

Here are the key news stories impacting Rush Street Interactive this week:

• Positive Sentiment: Q1 results beat expectations — EPS $0.14 vs. $0.12 consensus and revenue $370.4M vs. ~$327.8M est; revenue +41% y/y, with record quarterly net income and adjusted EBITDA growth that signal improving profitability. Rush Street Interactive, Inc. (RSI) Q1 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management raised FY2026 revenue and adjusted EBITDA guidance and highlighted record metrics (record revenue, record adj. EBITDA, 62% MAU growth in North American online casino markets), supporting stronger forward growth expectations. Rush Street Interactive Announces First Quarter 2026 Results and Raises Full Year Guidance
• Positive Sentiment: Needham upgraded RSI to a Buy and raised its price target to $33 (from $25), implying meaningful upside vs. recent levels — a catalyst for momentum buying. Benzinga
• Positive Sentiment: Street coverage and headlines highlighted the strong quarter, with outlets noting a double‑digit intraday jump after results, which can amplify trading flows. Rush Street Interactive’s NYSE: RSI Q1 CY2026: Strong sales, stock jumps 15%
• Neutral Sentiment: Full Q1 earnings call transcript is available for details on customer metrics, state rollout cadence, and margin drivers; investors should review for sustainability of MAU and margin trends. Rush Street Interactive, Inc. (RSI) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Valuation and operating leverage remain potential risks — RSI trades at a high P/E (~98x) and a large market cap, so further multiple expansion depends on continued execution against guidance and margin improvement. Earnings To Watch: Rush Street Interactive Inc (RSI) Reports Q1 2026 Result

Rush Street Interactive Company Profile

Rush Street Interactive NYSE: RSI is a digital gaming and sports betting company that develops and operates online wagering platforms in regulated markets. As a subsidiary of Rush Street Gaming, the company specializes in delivering interactive casino games, live dealer experiences, and sports betting services through desktop and mobile applications. Its technology infrastructure is designed to support real-time wagering, secure transactions, and responsible gaming tools across multiple jurisdictions.

The company’s flagship brand, BetRivers, offers a range of casino titles—including slots, table games, and virtual sports—alongside a comprehensive sportsbook featuring pre-game and in-play betting markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.