Sharplink Gaming Inc. (NASDAQ:SBET) Given Average Rating of “Moderate Buy” by Analysts

Sharplink Gaming Inc. (NASDAQ:SBET) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.90.

Several equities analysts have recently commented on SBET shares. Citizens Jmp reduced their target price on Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. TD Cowen reaffirmed a “buy” rating and issued a $13.00 price target (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Alliance Global Partners reiterated a “buy” rating on shares of Sharplink Gaming in a research note on Monday, May 11th. Cantor Fitzgerald reduced their price objective on shares of Sharplink Gaming from $10.50 to $8.10 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Finally, Wall Street Zen raised shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Institutional Investors Weigh In On Sharplink Gaming

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. bought a new stake in shares of Sharplink Gaming in the 3rd quarter worth $46,447,000. Alyeska Investment Group L.P. acquired a new position in Sharplink Gaming during the third quarter worth about $42,509,000. Voloridge Investment Management LLC raised its position in Sharplink Gaming by 344.4% in the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after acquiring an additional 2,101,252 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Sharplink Gaming in the 1st quarter worth approximately $11,691,000. Finally, Tidal Investments LLC purchased a new stake in shares of Sharplink Gaming during the third quarter valued at $30,283,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Stock Performance

Shares of NASDAQ:SBET opened at $6.26 on Monday. The business’s 50-day simple moving average is $5.70 and its 200 day simple moving average is $6.58. The company has a market cap of $1.36 billion, a P/E ratio of 125.20 and a beta of 10.48. Sharplink Gaming has a one year low of $4.46 and a one year high of $22.72.

Sharplink Gaming (NASDAQ:SBET) last posted 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). The firm had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $12.26 million. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. Analysts predict that Sharplink Gaming will post 0.09 earnings per share for the current year.

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.