Sharplink Gaming (NASDAQ:SBET) Issues Earnings Results

Sharplink Gaming (NASDAQ:SBET) released its quarterly earnings data on Friday. The company reported $3.45 earnings per share for the quarter, FiscalAI reports. 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 $13.46 million during the quarter, compared to analyst estimates of $10.51 million.

Sharplink Gaming Stock Performance

SBET stock traded down $0.18 during trading on Friday, reaching $6.24. 10,888,724 shares of the company traded hands, compared to its average volume of 8,867,431. Sharplink Gaming has a 12 month low of $4.46 and a 12 month high of $12.58. The business has a 50 day simple moving average of $8.39 and a 200 day simple moving average of $7.16. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 124.80 and a beta of 11.23.

Insider Transactions at Sharplink Gaming

In other Sharplink Gaming news, Director Joseph Lubin sold 5,676,952 shares of the business’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $8.39, for a total value of $47,629,627.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SBET shares. Wall Street Zen upgraded shares of Sharplink Gaming from a “strong sell” rating to a “sell” rating in a report on Sunday, August 30th. Cantor Fitzgerald increased their price objective on shares of Sharplink Gaming from $8.30 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sharplink Gaming in a research note on Friday, October 2nd. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a report on Thursday, August 13th. Finally, Canaccord Genuity Group reduced their price objective on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.00.

About Sharplink Gaming

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.