Needham & Company LLC Raises Super Group (NYSE:SGHC) Price Target to $11.00

Super Group (NYSE:SGHC) had its price target lifted by analysts at Needham & Company LLC from $10.00 to $11.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 31.31% from the company’s current price.

Other analysts also recently issued reports about the stock. Oppenheimer lifted their price objective on shares of Super Group from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Canaccord Genuity Group lifted their price objective on shares of Super Group from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. BTIG Research began coverage on shares of Super Group in a report on Friday, March 28th. They set a “buy” rating and a $9.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Super Group in a report on Wednesday, April 16th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.40.

Super Group Price Performance

Shares of NYSE:SGHC opened at $8.38 on Thursday. The firm has a fifty day moving average price of $7.43 and a two-hundred day moving average price of $6.92. Super Group has a one year low of $2.91 and a one year high of $9.17. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 139.64 and a beta of 1.01.

Super Group (NYSE:SGHC) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Super Group had a net margin of 2.25% and a return on equity of 15.40%. The firm had revenue of $495.96 million during the quarter, compared to the consensus estimate of $423.91 million. Equities research analysts expect that Super Group will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Super Group

A number of large investors have recently added to or reduced their stakes in SGHC. JPMorgan Chase & Co. increased its position in shares of Super Group by 106.0% in the third quarter. JPMorgan Chase & Co. now owns 226,906 shares of the company’s stock valued at $824,000 after acquiring an additional 116,740 shares during the period. SG Americas Securities LLC increased its position in shares of Super Group by 40.1% during the fourth quarter. SG Americas Securities LLC now owns 68,551 shares of the company’s stock valued at $427,000 after buying an additional 19,631 shares during the period. DGS Capital Management LLC purchased a new position in shares of Super Group during the fourth quarter valued at about $73,000. Helikon Investments Ltd increased its position in shares of Super Group by 82.5% during the fourth quarter. Helikon Investments Ltd now owns 3,234,022 shares of the company’s stock valued at $20,148,000 after buying an additional 1,462,418 shares during the period. Finally, Rhumbline Advisers grew its holdings in Super Group by 10.4% in the fourth quarter. Rhumbline Advisers now owns 194,146 shares of the company’s stock worth $1,210,000 after purchasing an additional 18,248 shares during the period. Hedge funds and other institutional investors own 5.09% of the company’s stock.

About Super Group

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. Super Group (SGHC) Limited is based in Saint Peter Port, Guernsey.