JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Rush Street Interactive (NYSE:RSI) Stock

Rush Street Interactive (NYSE:RSI) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $16.00 to $18.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 4.17% from the company’s current price.

Several other research firms also recently weighed in on RSI. Oppenheimer lifted their price objective on Rush Street Interactive from $16.00 to $21.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of Rush Street Interactive in a report on Monday. Needham & Company LLC boosted their target price on shares of Rush Street Interactive from $17.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Zacks Research downgraded shares of Rush Street Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Benchmark boosted their target price on shares of Rush Street Interactive from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.78.

Rush Street Interactive Price Performance

RSI stock opened at $17.28 on Thursday. The business has a 50-day moving average price of $20.51 and a 200 day moving average price of $15.92. The company has a market capitalization of $3.95 billion, a P/E ratio of 86.40 and a beta of 1.87. Rush Street Interactive has a 1-year low of $9.54 and a 1-year high of $22.65.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $269.22 million during the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a return on equity of 16.53% and a net margin of 2.48%.The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.04 earnings per share. Rush Street Interactive has set its FY 2025 guidance at EPS. On average, analysts anticipate that Rush Street Interactive will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rush Street Interactive

In other Rush Street Interactive news, Director Judith Gold sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $19.61, for a total value of $1,961,000.00. Following the sale, the director owned 111,629 shares in the company, valued at approximately $2,189,044.69. This represents a 47.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Masi Niccolo De sold 446,094 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total value of $8,185,824.90. Following the completion of the sale, the director owned 15,203 shares in the company, valued at approximately $278,975.05. This represents a 96.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,477,847 shares of company stock worth $28,465,288 in the last 90 days. Corporate insiders own 56.94% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds have recently bought and sold shares of RSI. GAMMA Investing LLC boosted its position in Rush Street Interactive by 1,687.6% in the 1st quarter. GAMMA Investing LLC now owns 6,507 shares of the company’s stock worth $70,000 after purchasing an additional 6,143 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Rush Street Interactive by 4.6% during the 1st quarter. Rhumbline Advisers now owns 108,193 shares of the company’s stock valued at $1,160,000 after buying an additional 4,767 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Rush Street Interactive by 36.5% during the 1st quarter. SG Americas Securities LLC now owns 77,587 shares of the company’s stock valued at $832,000 after buying an additional 20,745 shares in the last quarter. Highland Capital Management LLC purchased a new position in shares of Rush Street Interactive during the 1st quarter valued at approximately $169,000. Finally, Principal Financial Group Inc. lifted its position in shares of Rush Street Interactive by 7.5% during the 1st quarter. Principal Financial Group Inc. now owns 92,473 shares of the company’s stock valued at $991,000 after buying an additional 6,422 shares in the last quarter. Hedge funds and other institutional investors own 24.78% of the company’s stock.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.