Sharplink Gaming (NASDAQ:SBET – Free Report) had its target price raised by Cantor Fitzgerald from $8.30 to $17.00 in a report issued on Thursday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.
Several other equities analysts have also recently weighed in on SBET. TD Cowen reissued a “buy” rating and set a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Canaccord Genuity Group cut 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. Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Wall Street Zen upgraded Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 30th. Finally, Citizens Jmp lowered their target price on Sharplink Gaming to $30.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.50.
Sharplink Gaming Stock Up 5.3%
Sharplink Gaming (NASDAQ:SBET – Get Free Report) last issued its quarterly earnings data 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). Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The company had revenue of $11.53 million for the quarter, compared to the consensus estimate of $12.26 million. Analysts anticipate that Sharplink Gaming will post 0.12 earnings per share for the current year.
Institutional Investors Weigh In On Sharplink Gaming
Several hedge funds and other institutional investors have recently modified their holdings of SBET. Caitong International Asset Management Co. Ltd bought a new position in Sharplink Gaming in the 3rd quarter worth $49,000. Empowered Funds LLC bought a new position in shares of Sharplink Gaming in the fourth quarter worth about $56,000. Independent Financial Group LLC bought a new position in shares of Sharplink Gaming in the first quarter worth about $65,000. NewEdge Advisors LLC bought a new position in shares of Sharplink Gaming in the second quarter worth about $101,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Sharplink Gaming during the 1st quarter valued at about $71,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.
About Sharplink Gaming
SharpLink Gaming Ltd. is a sports betting and iGaming technology company that provides performance marketing and user-acquisition solutions. Its platform helps online sportsbook and casino operators connect with customers through digital marketing, affiliate partnerships, and data-driven player acquisition programs.
The company’s activities have historically included sports betting content, affiliate marketing, and technology services designed to support online gaming operators and their customers.
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