Sharplink Gaming (NASDAQ:SBET) Upgraded by Wall Street Zen to Hold Rating

Sharplink Gaming (NASDAQ:SBET) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also commented on the company. Cantor Fitzgerald began coverage on Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 price objective for the company. Canaccord Genuity Group set a $16.00 target price on Sharplink Gaming and gave the stock a “buy” rating in a research note on Thursday, January 29th. 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 Sharplink Gaming in a report on Wednesday, January 7th. Finally, Citizens Jmp dropped their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.71.

Sharplink Gaming Stock Up 0.7%

Shares of Sharplink Gaming stock opened at $7.53 on Friday. The company has a market cap of $1.48 billion, a P/E ratio of -3.15 and a beta of 11.40. The firm’s 50 day moving average price is $8.31 and its 200-day moving average price is $11.65. Sharplink Gaming has a 52-week low of $2.26 and a 52-week high of $124.12.

Sharplink Gaming (NASDAQ:SBET) last posted its earnings results on Monday, March 9th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. The company had revenue of $13.31 million during the quarter, compared to analysts’ expectations of $17.19 million. Sharplink Gaming had a negative net margin of 2,618.38% and a negative return on equity of 50.72%.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Sharplink Gaming during the 3rd quarter worth about $49,000. Empowered Funds LLC acquired a new position in shares of Sharplink Gaming in the fourth quarter valued at about $56,000. R Squared Ltd purchased a new position in shares of Sharplink Gaming in the fourth quarter worth about $90,000. Abacus Planning Group Inc. acquired a new stake in shares of Sharplink Gaming during the fourth quarter worth about $94,000. Finally, CI Investments Inc. acquired a new stake in shares of Sharplink Gaming during the fourth quarter worth about $100,000. Hedge funds and other 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.