Sharplink Gaming (NASDAQ:SBET) Issues Earnings Results

Sharplink Gaming (NASDAQ:SBET) released its quarterly earnings data on Friday. The company reported $3.45 EPS for the quarter, FiscalAI reports. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $10.51 million.

Sharplink Gaming Price Performance

Shares of NASDAQ SBET opened at $6.24 on Friday. Sharplink Gaming has a 1-year low of $4.46 and a 1-year high of $12.58. The business’s fifty day moving average price is $8.39 and its two-hundred day moving average price is $7.16. The firm has a market capitalization of $1.36 billion, a PE ratio of 124.80 and a beta of 11.23.

Wall Street Analysts Forecast Growth

SBET has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Sharplink Gaming in a report on Friday, October 2nd. Canaccord Genuity Group decreased their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. B. Riley Financial reaffirmed a “buy” rating and set a $14.00 price objective (up from $12.00) on shares of Sharplink Gaming in a research report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 30th. Finally, TD Cowen reissued a “buy” rating and issued a $13.00 target price (down from $16.00) on shares of Sharplink Gaming in a report on Friday, July 31st. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $16.00.

Insider Transactions at Sharplink Gaming

In other news, Director Joseph Lubin sold 5,676,952 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total transaction of $47,629,627.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.