Brokerages Set Rush Street Interactive, Inc. (NYSE:RSI) PT at $35.22

Rush Street Interactive, Inc. (NYSE:RSI) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $35.10.

Several brokerages have issued reports on RSI. Needham & Company LLC raised their price objective on shares of Rush Street Interactive from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup reaffirmed a “market outperform” rating on shares of Rush Street Interactive in a research report on Tuesday. Wells Fargo & Company lifted their price target on Rush Street Interactive from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Jefferies Financial Group restated a “buy” rating and issued a $39.00 price target on shares of Rush Street Interactive in a research note on Thursday, July 30th. Finally, Stifel Nicolaus assumed coverage on Rush Street Interactive in a report on Monday. They issued a “buy” rating and a $34.00 price objective on the stock.

Insider Transactions at Rush Street Interactive

In other news, CFO Kyle Sauers sold 23,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $26.56, for a total value of $610,880.00. Following the completion of the sale, the chief financial officer owned 606,526 shares of the company’s stock, valued at approximately $16,109,330.56. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Richard Schwartz sold 111,110 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $25.69, for a total transaction of $2,854,415.90. Following the completion of the transaction, the chief executive officer owned 421,258 shares in the company, valued at $10,822,118.02. This trade represents a 20.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 614,000 shares of company stock valued at $17,394,492. 52.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RSI. New York State Teachers Retirement System grew its position in Rush Street Interactive by 5.2% during the 1st quarter. New York State Teachers Retirement System now owns 8,441 shares of the company’s stock worth $184,000 after acquiring an additional 419 shares during the last quarter. Allworth Financial LP raised its position in Rush Street Interactive by 38.1% in the second quarter. Allworth Financial LP now owns 1,917 shares of the company’s stock valued at $57,000 after purchasing an additional 529 shares during the last quarter. Global Retirement Partners LLC bought a new position in Rush Street Interactive in the second quarter valued at about $35,000. ProShare Advisors LLC boosted its stake in shares of Rush Street Interactive by 10.3% during the fourth quarter. ProShare Advisors LLC now owns 16,740 shares of the company’s stock valued at $325,000 after purchasing an additional 1,561 shares in the last quarter. Finally, CoreCap Advisors LLC acquired a new stake in shares of Rush Street Interactive during the second quarter valued at about $54,000. 24.78% of the stock is owned by institutional investors.

Key Rush Street Interactive News

Here are the key news stories impacting Rush Street Interactive this week:

• Positive Sentiment: Stifel initiated coverage with a Buy rating and a $34 price target, implying substantial upside from recent levels. The firm highlighted RSI’s focus on online casino, a market it views as offering “scarcity value” because relatively few publicly traded companies provide direct exposure to U.S. iGaming. Stifel Initiates Rush Street Interactive at Buy With $34 Price Target Stifel: Rush Street Interactive Stock Offers iGaming Scarcity Value
• Positive Sentiment: Citizens JMP reaffirmed its Market Outperform rating and set a $34 target, also indicating roughly 60% potential upside. The repeated bullish targets strengthen the analyst-support narrative around RSI. Stifel Initiates Coverage of Rush Street Interactive With Buy
• Neutral Sentiment: The news is concentrated on analyst coverage rather than a new earnings report, guidance update, or operating announcement. RSI’s strong revenue growth and profitable results remain supportive, but the stock trades at a high earnings multiple and below its 50-day and 200-day moving averages, which may be limiting near-term enthusiasm.

Rush Street Interactive Price Performance

NYSE:RSI opened at $21.21 on Friday. The company has a market cap of $4.92 billion, a P/E ratio of 73.14 and a beta of 1.51. The firm’s fifty day moving average price is $27.12 and its two-hundred day moving average price is $26.32. Rush Street Interactive has a one year low of $15.51 and a one year high of $34.53.

Rush Street Interactive (NYSE:RSI) last posted its earnings results on Wednesday, July 29th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Rush Street Interactive had a net margin of 2.33% and a return on equity of 18.88%. The company had revenue of $393.78 million during the quarter, compared to analysts’ expectations of $367.75 million. During the same quarter last year, the company posted $0.11 EPS. Rush Street Interactive’s quarterly revenue was up 46.3% compared to the same quarter last year. As a group, equities research analysts expect that Rush Street Interactive will post 0.49 earnings per share for the current year.

About Rush Street Interactive

Rush Street Interactive, Inc (NYSE: RSI) is an online gaming and sports betting company that operates digital casino, sportsbook and related gaming platforms. Its consumer-facing brands include BetRivers and PlaySugarHouse, which offer mobile and online wagering products such as sports betting, internet casino games and, in certain markets, online poker.

The company operates primarily in regulated markets across the United States and Canada, as well as select Latin American jurisdictions.