Wall Street Zen downgraded shares of Sharplink Gaming (NASDAQ:SBET – Free Report) from a hold rating to a strong sell rating in a research report released on Saturday.
A number of other analysts also recently weighed in on the company. Canaccord Genuity Group decreased their price objective on Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research report on Monday, May 11th. Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. TD Cowen reissued a “buy” rating and issued a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Finally, Cantor Fitzgerald lowered their price objective on Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.01.
View Our Latest Analysis on SBET
Sharplink Gaming Trading Up 4.6%
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last posted its 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 business had revenue of $11.53 million for the quarter, compared to the consensus estimate of $12.26 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 predict that Sharplink Gaming will post 0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sharplink Gaming
Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in Sharplink Gaming during the second quarter valued at $3,229,000. Qube Research & Technologies Ltd bought a new position in shares of Sharplink Gaming in the 2nd quarter worth about $151,000. NewEdge Advisors LLC bought a new position in shares of Sharplink Gaming in the 2nd quarter worth about $101,000. HUB Investment Partners LLC acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at about $298,000. Finally, Anatole Investment Management Ltd acquired a new position in shares of Sharplink Gaming in the 2nd quarter valued at about $6,332,000. Institutional investors and hedge funds 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.
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