Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Rating of “Moderate Buy” from Brokerages

Sharplink Gaming Inc. (NASDAQ:SBET) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $24.7143.

A number of research firms have issued reports on SBET. Canaccord Genuity Group reissued a “buy” rating and issued a $16.00 target price on shares of Sharplink Gaming in a research note on Tuesday, March 17th. Cantor Fitzgerald started coverage on Sharplink Gaming in a research report on Monday, January 5th. They set an “overweight” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. B. Riley Financial lowered their price objective on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Citizens Jmp dropped their price objective on shares of Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a report on Wednesday, March 11th.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Sharplink Gaming in the 2nd quarter valued at $26,852,000. APEIRON CAPITAL Ltd bought a new stake in shares of Sharplink Gaming in the third quarter valued at about $23,038,000. XTX Topco Ltd boosted its position in shares of Sharplink Gaming by 509.9% in the second quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock valued at $1,095,000 after acquiring an additional 92,189 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Sharplink Gaming in the third quarter valued at about $30,812,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Sharplink Gaming in the third quarter valued at about $2,190,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Price Performance

Shares of SBET stock opened at $7.17 on Friday. The stock has a market cap of $1.41 billion, a PE ratio of -3.00 and a beta of 11.40. The stock has a 50-day moving average of $7.95 and a 200-day moving average of $11.09. Sharplink Gaming has a one year low of $2.26 and a one year high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last released its quarterly earnings data on Monday, March 9th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.11. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%. The business had revenue of $13.31 million for the quarter, compared to analyst estimates of $17.19 million.

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.