Sharplink Gaming (NASDAQ:SBET) Price Target Lowered to $10.00 at B. Riley Financial

Sharplink Gaming (NASDAQ:SBET) had its target price lowered by B. Riley Financial from $19.00 to $10.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also recently commented on SBET. Canaccord Genuity Group set a $16.00 price target on Sharplink Gaming and gave the company a “buy” rating in a report on Thursday, January 29th. Sanford C. Bernstein started coverage on Sharplink Gaming in a research note on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. iA Financial set a $20.00 price target on shares of Sharplink Gaming in a research note on Wednesday, January 7th. Finally, Cantor Fitzgerald started coverage on shares of Sharplink Gaming in a research note on Monday, January 5th. They issued an “overweight” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.14.

Sharplink Gaming Stock Performance

NASDAQ:SBET opened at $6.49 on Monday. The firm’s 50-day moving average is $8.82 and its 200-day moving average is $12.86. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -2.72 and a beta of 11.28.

Institutional Investors Weigh In On Sharplink Gaming

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Sharplink Gaming during the 3rd quarter worth about $49,000. Empowered Funds LLC bought a new stake in Sharplink Gaming during the fourth quarter worth about $56,000. R Squared Ltd acquired a new stake in shares of Sharplink Gaming during the fourth quarter worth approximately $90,000. Abacus Planning Group Inc. bought a new position in shares of Sharplink Gaming in the fourth quarter valued at approximately $94,000. Finally, CI Investments Inc. bought a new position in shares of Sharplink Gaming in the fourth quarter valued at approximately $100,000. Institutional investors own 13.75% of the company’s stock.

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.