Sharplink Gaming (NASDAQ:SBET) Upgraded to “Strong-Buy” at Canaccord Genuity Group

Sharplink Gaming (NASDAQ:SBET) was upgraded by investment analysts at Canaccord Genuity Group to a “strong-buy” rating in a report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $16.00 target price on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 70.76% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein initiated coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price objective for the company. Cantor Fitzgerald assumed coverage on Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target for the company. JMP Securities started coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. Finally, Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sharplink Gaming presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.25.

Sharplink Gaming Trading Down 6.0%

NASDAQ SBET opened at $9.37 on Thursday. The stock has a market cap of $1.84 billion, a P/E ratio of -3.92 and a beta of 11.12. The company’s fifty day simple moving average is $10.03 and its 200-day simple moving average is $15.05. Sharplink Gaming has a 52 week low of $2.26 and a 52 week high of $124.12.

Institutional Trading of Sharplink Gaming

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at about $26,852,000. APEIRON CAPITAL Ltd bought a new position in Sharplink Gaming in the third quarter worth about $23,038,000. XTX Topco Ltd boosted its stake in Sharplink Gaming by 509.9% in the second quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after acquiring an additional 92,189 shares during the period. Thames Capital Management LLC bought a new position in shares of Sharplink Gaming during the second quarter valued at approximately $1,566,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Sharplink Gaming during the 3rd quarter worth approximately $2,854,000. 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. 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.