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

Shares of Sharplink Gaming Inc. (NASDAQ:SBET) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $27.4286.

A number of analysts have recently commented on SBET shares. iA Financial set a $20.00 target price on Sharplink Gaming in a research report on Wednesday, January 7th. Canaccord Genuity Group set a $16.00 price objective on Sharplink Gaming and gave the company a “buy” rating in a research note on Thursday, January 29th. B. Riley Financial decreased their price objective on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Cantor Fitzgerald initiated coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Sharplink Gaming in a research report on Friday, October 31st. They issued an “outperform” rating and a $24.00 price target for the company.

Sharplink Gaming Price Performance

Shares of NASDAQ:SBET opened at $6.72 on Monday. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The firm has a market capitalization of $1.32 billion, a P/E ratio of -2.81 and a beta of 11.28. The company’s fifty day moving average price is $8.88 and its 200 day moving average price is $12.98.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in SBET. Alyeska Investment Group L.P. increased its position in Sharplink Gaming by 70.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after acquiring an additional 1,769,589 shares during the period. Invesco Ltd. grew its stake in shares of Sharplink Gaming by 165.9% in the 4th quarter. Invesco Ltd. now owns 2,734,052 shares of the company’s stock valued at $24,442,000 after purchasing an additional 1,706,011 shares during the last quarter. Vanguard Group Inc. acquired a new position in shares of Sharplink Gaming in the third quarter valued at approximately $46,447,000. Voloridge Investment Management LLC raised its stake in shares of Sharplink Gaming by 344.4% during the fourth quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after purchasing an additional 2,101,252 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Sharplink Gaming during the second quarter worth approximately $26,852,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

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.