Sharplink Gaming (NASDAQ:SBET) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Sharplink Gaming (NASDAQ:SBET) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The firm issued a strong-buy rating and a $16.00 target price on the stock.

A number of other research firms have also issued reports on SBET. Industrial Alliance Securities set a $20.00 target price on Sharplink Gaming in a report on Wednesday, January 7th. JMP Securities began coverage on shares of Sharplink Gaming in a research note on Thursday, October 16th. They issued a “market outperform” rating and a $50.00 price objective on the stock. Sanford C. Bernstein assumed coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They set an “outperform” rating and a $24.00 target price for the company. B. Riley reduced their target price on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Finally, Cantor Fitzgerald started coverage on Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sharplink Gaming presently has an average rating of “Moderate Buy” and an average price target of $30.25.

Sharplink Gaming Stock Performance

Shares of SBET stock opened at $8.88 on Thursday. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The business’s fifty day moving average is $10.02 and its 200-day moving average is $14.85. The stock has a market cap of $1.75 billion, a PE ratio of -3.72 and a beta of 11.12.

Institutional Investors Weigh In On Sharplink Gaming

Hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Sharplink Gaming during the 4th quarter worth about $90,000. S.A. Mason LLC boosted its holdings in shares of Sharplink Gaming by 93.2% during the fourth quarter. S.A. Mason LLC now owns 28,244 shares of the company’s stock worth $253,000 after purchasing an additional 13,625 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Sharplink Gaming by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock valued at $139,000 after purchasing an additional 2,946 shares in the last quarter. Signaturefd LLC grew its position in Sharplink Gaming by 162.2% during the fourth quarter. Signaturefd LLC now owns 57,550 shares of the company’s stock valued at $514,000 after purchasing an additional 35,600 shares in the last quarter. Finally, Formidable Asset Management LLC acquired a new position in Sharplink Gaming in the 4th quarter valued at approximately $171,000. 13.75% of the stock is owned by hedge funds and other 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.