Sharplink Gaming Inc. (NASDAQ:SBET) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.2857.

SBET has been the subject of several research reports. B. Riley decreased their target price on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. JMP Securities started coverage on shares of Sharplink Gaming in a research report on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Sanford C. Bernstein began coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Citizens Jmp initiated coverage on shares of Sharplink Gaming in a report on Thursday, October 16th. They set a “mkt outperform” rating and a $50.00 target price for the company.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sharplink Gaming in the 3rd quarter valued at $49,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sharplink Gaming by 23.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,600 shares of the company’s stock valued at $139,000 after buying an additional 2,946 shares in the last quarter. IFP Advisors Inc acquired a new position in shares of Sharplink Gaming in the third quarter worth about $102,000. Global Retirement Partners LLC purchased a new position in shares of Sharplink Gaming in the third quarter worth approximately $103,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Sharplink Gaming during the third quarter valued at approximately $144,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

Sharplink Gaming Stock Performance

Shares of NASDAQ SBET opened at $9.97 on Thursday. The stock has a fifty day moving average price of $10.03 and a two-hundred day moving average price of $15.09. The firm has a market cap of $1.96 billion, a P/E ratio of -4.17 and a beta of 11.12. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12.

Sharplink Gaming Company Profile

SharpLink Gaming, Inc operates as an online technology company that connects sports fans, leagues, and sports websites to sports betting and iGaming content. The company operates through four segments: Affiliate Marketing Services United States, Affiliate Marketing Services International, Sports Gaming Client Services, and SportsHub Games Network. It operates a performance marketing platform, which owns and operates state-specific web domains to attract, acquire, and drive local sports betting and casino traffic directly to the company's sportsbook and casino partners, which are licensed to operate in each respective state; and offers sports betting data to sports media publishers.