Sharplink Gaming (NASDAQ:SBET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Sharplink Gaming (NASDAQ:SBET) from a sell rating to a hold rating in a report published on Saturday.

Several other analysts also recently issued reports on the stock. Citizens Jmp decreased their price objective on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 11th. Cantor Fitzgerald began coverage on Sharplink Gaming in a research note on Monday, January 5th. They set an “overweight” rating and a $15.00 target price on the stock. iA Financial set a $20.00 price target on Sharplink Gaming in a research note on Wednesday, January 7th. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.71.

Sharplink Gaming Trading Up 8.9%

NASDAQ:SBET opened at $8.20 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of -3.43 and a beta of 11.40. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The business’s 50-day moving average is $8.27 and its 200 day moving average is $11.47.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings results on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The company had revenue of $13.31 million for the quarter, compared to the consensus estimate of $17.19 million. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the 3rd quarter worth $49,000. Empowered Funds LLC purchased a new stake in shares of Sharplink Gaming in the 4th quarter worth $56,000. R Squared Ltd purchased a new stake in shares of Sharplink Gaming in the 4th quarter worth $90,000. Abacus Planning Group Inc. bought a new position in shares of Sharplink Gaming during the 4th quarter worth $94,000. Finally, CI Investments Inc. bought a new position in shares of Sharplink Gaming during the 4th quarter worth $100,000. Institutional investors 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.