Sharplink Gaming Inc. (NASDAQ:SBET) Given Consensus Rating of “Moderate Buy” by Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $16.50.

A number of analysts have issued reports on the company. Cantor Fitzgerald raised their target price on Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a report on Thursday. Canaccord Genuity Group reduced their price objective on Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Citigroup restated a “market outperform” rating on shares of Sharplink Gaming in a research note on Thursday, August 13th. TD Cowen reissued a “buy” rating and issued a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Finally, Citizens Jmp decreased their price target on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds have recently made changes to their positions in SBET. Caitong International Asset Management Co. Ltd bought a new position in Sharplink Gaming during the third quarter worth about $49,000. Empowered Funds LLC acquired a new position in shares of Sharplink Gaming in the 4th quarter worth approximately $56,000. Independent Financial Group LLC bought a new position in shares of Sharplink Gaming during the 1st quarter worth approximately $65,000. Ameritas Advisory Services LLC bought a new position in shares of Sharplink Gaming during the 2nd quarter worth approximately $66,000. Finally, Koshinski Asset Management Inc. acquired a new stake in Sharplink Gaming in the 1st quarter valued at $71,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Price Performance

SBET stock opened at $8.43 on Friday. Sharplink Gaming has a 52-week low of $4.46 and a 52-week high of $19.53. The company has a 50-day moving average of $6.82 and a two-hundred day moving average of $6.67. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 168.60 and a beta of 10.56.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings data on Saturday, August 8th. The company reported ($1.88) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%.The business had revenue of $11.53 million during the quarter, compared to the consensus estimate of $12.26 million. Equities analysts expect that Sharplink Gaming will post 0.12 EPS for the current fiscal year.

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.