Oppenheimer Increases Rush Street Interactive (NYSE:RSI) Price Target to $14.00

Rush Street Interactive (NYSE:RSI) had its price target upped by research analysts at Oppenheimer from $10.00 to $14.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 17.15% from the company’s previous close.

Several other research firms have also weighed in on RSI. Craig Hallum lifted their target price on shares of Rush Street Interactive from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC lifted their target price on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rush Street Interactive has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Rush Street Interactive Stock Up 19.4 %

Shares of NYSE RSI opened at $11.95 on Thursday. Rush Street Interactive has a 52-week low of $3.17 and a 52-week high of $11.95. The firm has a fifty day moving average of $9.33 and a 200-day moving average of $7.36. The stock has a market capitalization of $2.69 billion, a PE ratio of -70.29 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The company had revenue of $220.38 million during the quarter, compared to analysts’ expectations of $201.37 million. During the same period in the previous year, the company earned ($0.08) EPS. The business’s quarterly revenue was up 33.5% compared to the same quarter last year. Equities research analysts expect that Rush Street Interactive will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Rush Street Interactive

A number of institutional investors have recently added to or reduced their stakes in RSI. SG Americas Securities LLC lifted its holdings in Rush Street Interactive by 33.2% in the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after buying an additional 3,764 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after buying an additional 11,856 shares in the last quarter. Aigen Investment Management LP acquired a new position in Rush Street Interactive in the 4th quarter worth $90,000. Tower Research Capital LLC TRC lifted its holdings in Rush Street Interactive by 665.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after buying an additional 19,058 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Rush Street Interactive in the 2nd quarter worth $98,000. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.