Sharplink Gaming Inc. (NASDAQ:SBET) Stock Has Average Target Price of $17.00

Sharplink Gaming Inc. (NASDAQ:SBET) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

Several research firms recently commented on SBET. Canaccord Genuity Group cut their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Wall Street Zen upgraded Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 30th. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sharplink Gaming in a research report on Friday, October 2nd. Finally, Citizens Jmp lowered their price objective on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th.

Hedge Funds Weigh In On Sharplink Gaming

A number of institutional investors and hedge funds have recently bought and sold shares of SBET. Lakewood Capital Management LP acquired a new position in shares of Sharplink Gaming during the second quarter valued at approximately $2,683,000. Clear Street Group Inc. acquired a new stake in shares of Sharplink Gaming during the fourth quarter worth $5,253,000. Bank of New York Mellon Corp purchased a new stake in Sharplink Gaming during the second quarter valued at about $2,488,000. Headlands Technologies LLC purchased a new stake in shares of Sharplink Gaming in the 2nd quarter valued at approximately $1,341,000. Finally, Bank of America Corp DE boosted its position in shares of Sharplink Gaming by 56.6% in the first quarter. Bank of America Corp DE now owns 1,275,442 shares of the company’s stock worth $8,227,000 after buying an additional 460,991 shares during the period. Institutional investors own 13.75% of the company’s stock.

Sharplink Gaming Trading Down 1.6%

Shares of NASDAQ:SBET opened at $8.81 on Tuesday. The stock’s 50-day moving average price is $8.18 and its two-hundred day moving average price is $6.92. Sharplink Gaming has a 12-month low of $4.46 and a 12-month high of $17.17. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 176.20 and a beta of 10.60.

Sharplink Gaming (NASDAQ:SBET) last released its earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.89). Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The company had revenue of $11.53 million during the quarter, compared to analysts’ expectations of $12.26 million. As a group, research analysts forecast that Sharplink Gaming will post 0.12 earnings per share for the current fiscal year.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. (NASDAQ: SBET) is a technology and digital marketing company serving the online sports betting and iGaming industries. Its platform is designed to help sportsbook and casino operators acquire, engage and retain customers through performance marketing, affiliate partnerships, data-driven campaigns and conversion tools.

The company has historically focused on connecting sports audiences with licensed online betting and gaming operators, supporting customer referral programs and related marketing initiatives.