Sharplink Gaming Inc. (NASDAQ:SBET) Receives $24.71 Average PT from Analysts

Sharplink Gaming Inc. (NASDAQ:SBET) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.7143.

SBET has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Thursday, January 22nd. Cantor Fitzgerald initiated coverage on Sharplink Gaming in a research report on Monday, January 5th. They issued an “overweight” rating and a $15.00 price target on the stock. Citizens Jmp dropped their price target on Sharplink Gaming from $50.00 to $40.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 11th. B. Riley Financial cut their price objective on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Wall Street Zen upgraded shares of Sharplink Gaming from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th.

Institutional Trading of Sharplink Gaming

Several large investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its position in Sharplink Gaming by 70.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,268,673 shares of the company’s stock valued at $38,162,000 after purchasing an additional 1,769,589 shares in the last quarter. Invesco Ltd. boosted its holdings 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 in the last quarter. Vanguard Group Inc. bought a new position in shares of Sharplink Gaming in the 3rd quarter valued at $46,447,000. Voloridge Investment Management LLC raised its holdings in shares of Sharplink Gaming by 344.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,711,424 shares of the company’s stock worth $24,240,000 after buying an additional 2,101,252 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Sharplink Gaming during the 2nd quarter worth $26,852,000. Institutional investors and hedge funds own 13.75% of the company’s stock.

Sharplink Gaming Trading Down 3.6%

NASDAQ SBET opened at $7.40 on Friday. Sharplink Gaming has a 1-year low of $2.26 and a 1-year high of $124.12. The company has a 50 day moving average of $8.08 and a 200-day moving average of $11.20. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -3.10 and a beta of 11.40.

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

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.