Canaccord Genuity Group Cuts Super Group (NYSE:SGHC) Price Target to $11.00

Super Group (NYSE:SGHCGet Rating) had its target price cut by analysts at Canaccord Genuity Group from $14.00 to $11.00 in a research note issued to investors on Thursday, The Fly reports. Canaccord Genuity Group’s price objective indicates a potential upside of 76.57% from the company’s current price.

SGHC has been the topic of several other reports. Oppenheimer began coverage on shares of Super Group in a research note on Monday, March 7th. They set an “outperform” rating and a $11.00 target price on the stock. Needham & Company LLC lowered their target price on shares of Super Group from $12.00 to $8.00 in a research note on Thursday. Canaccord Genuity Group began coverage on shares of Super Group in a research note on Friday, April 22nd. They set a “buy” rating and a $14.00 target price on the stock. Benchmark lowered shares of Super Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Super Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Super Group currently has an average rating of “Buy” and a consensus target price of $11.60.

SGHC opened at $6.23 on Thursday. Super Group has a 12-month low of $6.17 and a 12-month high of $11.09. The stock’s 50 day simple moving average is $9.40.

Super Group (NYSE:SGHCGet Rating) last posted its earnings results on Wednesday, May 25th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.42). The company had revenue of $334.50 million for the quarter, compared to analysts’ expectations of $336.69 million. The firm’s revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts predict that Super Group will post 0.36 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC acquired a new stake in shares of Super Group during the 1st quarter worth approximately $60,000. Neuberger Berman Group LLC acquired a new stake in shares of Super Group during the 1st quarter worth approximately $137,000. Toroso Investments LLC acquired a new stake in shares of Super Group during the 1st quarter worth approximately $175,000. Goldman Sachs Group Inc. acquired a new stake in shares of Super Group during the 1st quarter worth approximately $433,000. Finally, Ronit Capital LLP acquired a new stake in shares of Super Group during the 1st quarter worth approximately $753,000. 4.48% of the stock is currently owned by institutional investors and hedge funds.

Super Group Company Profile (Get Rating)

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. The company is based in Saint Peter Port, Guernsey.

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