Sharplink Gaming (NASDAQ:SBET – Free Report) had its price objective decreased by Canaccord Genuity Group from $16.00 to $8.00 in a research note issued to investors on Tuesday morning, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.
A number of other analysts also recently commented on SBET. Citigroup restated a “market outperform” rating on shares of Sharplink Gaming in a report on Thursday, August 13th. Alliance Global Partners reissued a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. TD Cowen restated a “buy” rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Cantor Fitzgerald dropped their price target on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 6th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.01.
View Our Latest Analysis on SBET
Sharplink Gaming Stock Performance
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last posted its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). The company had revenue of $11.53 million for the quarter, compared to analysts’ expectations of $12.26 million. Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%. Sell-side analysts predict that Sharplink Gaming will post 0.09 EPS for the current year.
Hedge Funds Weigh In On Sharplink Gaming
A number of hedge funds have recently made changes to their positions in SBET. Headlands Technologies LLC purchased a new stake in Sharplink Gaming during the 2nd quarter worth $1,341,000. Lakewood Capital Management LP purchased a new position in Sharplink Gaming in the second quarter valued at about $2,683,000. Compass Financial Management LLC acquired a new position in shares of Sharplink Gaming during the second quarter worth about $1,110,000. Bank of New York Mellon Corp acquired a new position in shares of Sharplink Gaming during the second quarter worth about $2,488,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Sharplink Gaming during the second quarter worth about $181,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.
About Sharplink Gaming
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.
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