Rush Street Interactive (NYSE:RSI) Price Target Raised to $23.00

Rush Street Interactive (NYSE:RSI) had its price objective hoisted by Needham & Company LLC from $21.00 to $23.00 in a research report report published on Thursday morning, Marketbeat reports. They currently have a buy rating on the stock.

A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Rush Street Interactive from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Rush Street Interactive in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Rush Street Interactive from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Jefferies Financial Group restated a “buy” rating on shares of Rush Street Interactive in a report on Monday, October 13th. Finally, Zacks Research lowered shares of Rush Street Interactive from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.75.

Rush Street Interactive Price Performance

NYSE RSI opened at $16.97 on Thursday. The company’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $16.50. Rush Street Interactive has a 12 month low of $9.54 and a 12 month high of $22.65. The company has a market capitalization of $3.88 billion, a P/E ratio of 67.89 and a beta of 1.87.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, October 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Rush Street Interactive had a net margin of 2.83% and a return on equity of 18.28%. The business had revenue of $277.91 million for the quarter, compared to the consensus estimate of $264.60 million. During the same period in the previous year, the firm earned $0.05 EPS. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. 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 year.

Insider Activity at Rush Street Interactive

In other Rush Street Interactive news, insider Paul Wierbicki sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $19.45, for a total value of $680,750.00. Following the transaction, the insider owned 91,705 shares in the company, valued at approximately $1,783,662.25. This represents a 27.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith Gold sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $19.61, for a total transaction of $1,961,000.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 931,753 shares of company stock worth $18,373,963 in the last 90 days. 56.94% of the stock is owned by corporate insiders.

Institutional Trading of Rush Street Interactive

Several large investors have recently added to or reduced their stakes in RSI. Pacer Advisors Inc. grew its position in Rush Street Interactive by 94.7% in the first quarter. Pacer Advisors Inc. now owns 2,533 shares of the company’s stock worth $27,000 after acquiring an additional 1,232 shares in the last quarter. Summit Securities Group LLC bought a new stake in Rush Street Interactive in the first quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new stake in Rush Street Interactive in the second quarter worth approximately $42,000. Osaic Holdings Inc. grew its position in Rush Street Interactive by 62.2% in the second quarter. Osaic Holdings Inc. now owns 4,872 shares of the company’s stock worth $73,000 after acquiring an additional 1,868 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Rush Street Interactive in the second quarter worth approximately $90,000. 24.78% of the stock is owned by institutional investors.

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.