Analysts Set Sharplink Gaming Inc. (NASDAQ:SBET) PT at $27.43

Sharplink Gaming Inc. (NASDAQ:SBET) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.1429.

Several equities analysts have weighed in on SBET shares. Wall Street Zen lowered Sharplink Gaming from a “hold” rating to a “sell” rating in a report on Saturday. Cantor Fitzgerald began coverage on shares of Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 target price on the stock. iA Financial set a $20.00 price target on shares of Sharplink Gaming in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of Sharplink Gaming in a report on Friday, October 31st. They set an “outperform” rating and a $24.00 price objective for the company.

Sharplink Gaming Price Performance

Shares of NASDAQ:SBET opened at $6.82 on Monday. The company has a market capitalization of $1.34 billion, a PE ratio of -2.85 and a beta of 11.28. Sharplink Gaming has a 1 year low of $2.26 and a 1 year high of $124.12. The business has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $12.56.

Hedge Funds Weigh In On Sharplink Gaming

A number of hedge funds have recently modified their holdings of the company. Thames Capital Management LLC purchased a new stake in shares of Sharplink Gaming in the 2nd quarter worth about $1,566,000. JPMorgan Chase & Co. purchased a new stake in shares of Sharplink Gaming in the 2nd quarter worth approximately $3,229,000. XTX Topco Ltd grew its stake in shares of Sharplink Gaming by 509.9% in the 2nd quarter. XTX Topco Ltd now owns 110,270 shares of the company’s stock worth $1,095,000 after buying an additional 92,189 shares during the last quarter. Marshall Wace LLP bought a new position in Sharplink Gaming during the 2nd quarter valued at approximately $26,852,000. Finally, Qube Research & Technologies Ltd bought a new stake in Sharplink Gaming during the 2nd quarter valued at about $151,000. 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.