Sharplink Gaming Inc. (SBET) – What Are Analysts Thinking About This Stock?

Sharplink Gaming Inc. (NASDAQ:SBET) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $16.00.

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target 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. Wall Street Zen upgraded shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. Cantor Fitzgerald increased their price target on Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. Citigroup reaffirmed a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $14.00 target price (up from $12.00) on shares of Sharplink Gaming in a research note on Tuesday, September 22nd.

Sharplink Gaming Stock Down 2.8%

Shares of NASDAQ:SBET opened at $6.24 on Friday. The firm has a 50 day moving average of $8.39 and a 200 day moving average of $7.16. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 124.80 and a beta of 11.23. Sharplink Gaming has a 52 week low of $4.46 and a 52 week high of $12.58.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings results on Friday, November 6th. The company reported $3.45 EPS for the quarter. The business had revenue of $13.46 million for the quarter, compared to analyst estimates of $10.51 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. On average, sell-side analysts expect that Sharplink Gaming will post 0.12 EPS for the current year.

Insider Activity

In other news, Director Joseph Lubin sold 5,676,952 shares of Sharplink Gaming stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $8.39, for a total transaction of $47,629,627.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in Sharplink Gaming by 70.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 3,462 shares of the company’s stock valued at $32,000 after purchasing an additional 1,434 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Sharplink Gaming by 355.7% in the 3rd quarter. GAMMA Investing LLC now owns 6,116 shares of the company’s stock valued at $57,000 after acquiring an additional 4,774 shares during the last quarter. Independent Financial Group LLC bought a new stake in shares of Sharplink Gaming during the first quarter valued at approximately $65,000. Koshinski Asset Management Inc. bought a new position in Sharplink Gaming during the first quarter valued at approximately $71,000. Finally, Galvin Gaustad & Stein LLC purchased a new stake in Sharplink Gaming in the third quarter valued at about $102,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.