Citizens Jmp Lowers Sharplink Gaming (NASDAQ:SBET) Price Target to $40.00

Sharplink Gaming (NASDAQ:SBET) had its target price reduced by stock analysts at Citizens Jmp from $50.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s target price indicates a potential upside of 441.27% from the company’s current price.

SBET has been the subject of a number of other reports. iA Financial set a $20.00 price objective on shares of Sharplink Gaming in a report on Wednesday, January 7th. Cantor Fitzgerald initiated coverage on shares of Sharplink Gaming in a research report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target on the stock. Canaccord Genuity Group set a $16.00 price target on Sharplink Gaming and gave the company a “buy” rating in a research note on Thursday, January 29th. B. Riley Financial decreased their price objective on Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sharplink Gaming has an average rating of “Moderate Buy” and an average target price of $24.71.

Sharplink Gaming Stock Down 2.8%

Shares of NASDAQ:SBET opened at $7.39 on Wednesday. Sharplink Gaming has a twelve month low of $2.26 and a twelve month high of $124.12. The stock’s 50 day moving average is $8.41 and its 200-day moving average is $11.79. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -3.09 and a beta of 11.40.

Sharplink Gaming (NASDAQ:SBET) last posted its quarterly earnings results on Monday, March 9th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 7.86% and a negative return on equity of 2.26%. The business had revenue of $13.31 million during the quarter, compared to the consensus estimate of $17.19 million.

Institutional Trading of Sharplink Gaming

A number of hedge funds have recently bought and sold shares of SBET. Vanguard Group Inc. purchased a new position in Sharplink Gaming in the third quarter worth $46,447,000. Marshall Wace LLP purchased a new stake in shares of Sharplink Gaming during the 2nd quarter valued at $26,852,000. Alyeska Investment Group L.P. bought a new stake in shares of Sharplink Gaming during the 3rd quarter worth $42,509,000. Voloridge Investment Management LLC raised its stake in shares of Sharplink Gaming by 344.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after purchasing an additional 2,101,252 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Sharplink Gaming in the 3rd quarter worth about $30,812,000. 13.75% of the stock is currently owned by institutional investors.

Sharplink Gaming Company Profile

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.