Needham & Company LLC Cuts Super Group (NYSE:SGHC) Price Target to $8.00

Super Group (NYSE:SGHC – Get Rating) had its price objective reduced by equities researchers at Needham & Company LLC from $12.00 to $8.00 in a note issued to investors on Thursday, The Fly reports. Needham & Company LLC’s price target would suggest a potential upside of 28.41% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group assumed coverage on Super Group in a research report on Friday, April 22nd. They set a “buy” rating and a $14.00 price target on the stock. Oppenheimer assumed coverage on Super Group in a research report on Monday, March 7th. They set an “outperform” rating and a $11.00 price target on the stock. Canaccord Genuity Group assumed coverage on Super Group in a research report on Friday, April 22nd. They set a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research cut Super Group from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Finally, Benchmark lowered Super Group from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $12.20.

SGHC stock opened at $6.23 on Thursday. The stock has a fifty day simple moving average of $9.40. Super Group has a 1-year low of $6.17 and a 1-year high of $11.09.

Super Group (NYSE:SGHC – Get Rating) last issued its quarterly earnings results on Wednesday, May 25th. The company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.42). The firm had revenue of $334.50 million during the quarter, compared to analysts’ expectations of $336.69 million. The business’s revenue was up 7.3% on a year-over-year basis. As a group, equities analysts expect that Super Group will post 0.36 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC bought a new position in Super Group in the 1st quarter worth about $60,000. Neuberger Berman Group LLC bought a new position in Super Group in the 1st quarter worth about $137,000. Toroso Investments LLC bought a new position in Super Group in the 1st quarter worth about $175,000. Goldman Sachs Group Inc. bought a new position in Super Group in the 1st quarter worth about $433,000. Finally, Johnson Financial Group LLC bought a new position in Super Group in the 1st quarter worth about $719,000. Institutional investors own 4.48% of the company’s stock.

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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