Wells Fargo & Company Boosts Rush Street Interactive (NYSE:RSI) Price Target to $13.00

Rush Street Interactive (NYSE:RSI) had its price target lifted by Wells Fargo & Company from $11.00 to $13.00 in a research report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on RSI. Craig Hallum upped 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. Oppenheimer upped their target price on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC increased their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a buy rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $11.17.

Rush Street Interactive Stock Down 8.7 %

Shares of Rush Street Interactive stock opened at $9.25 on Thursday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -59.59 and a beta of 1.79. The company’s 50 day moving average is $9.40 and its 200 day moving average is $7.47. Rush Street Interactive has a twelve month low of $3.17 and a twelve month high of $11.59.

Rush Street Interactive (NYSE:RSI) last announced its earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.65%. The business had revenue of $220.38 million during the quarter, compared to analysts’ expectations of $201.37 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm’s revenue was up 33.5% on a year-over-year basis. Sell-side analysts expect that Rush Street Interactive will post -0.05 EPS for the current fiscal year.

Institutional Trading of Rush Street Interactive

Hedge funds and other institutional investors have recently modified their holdings of the company. Nomura Holdings Inc. grew its stake in Rush Street Interactive by 24.7% during the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock valued at $18,788,000 after acquiring an additional 828,984 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Rush Street Interactive by 13,627.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after acquiring an additional 11,856 shares in the last quarter. Bayesian Capital Management LP purchased a new position in Rush Street Interactive during the first quarter valued at $403,000. SG Americas Securities LLC grew its stake in Rush Street Interactive by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock valued at $68,000 after acquiring an additional 3,764 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Rush Street Interactive during the first quarter valued at $148,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.