Needham & Company LLC Boosts Rush Street Interactive (NYSE:RSI) Price Target to $9.00

Rush Street Interactive (NYSE:RSI) had its target price lifted by Needham & Company LLC from $8.00 to $9.00 in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Craig Hallum upgraded Rush Street Interactive from a hold rating to a buy rating and boosted their target price for the company from $7.00 to $8.00 in a research note on Friday, April 19th. Susquehanna reaffirmed a neutral rating and set a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. JMP Securities reiterated a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer increased their price target on shares of Rush Street Interactive from $7.00 to $9.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Rush Street Interactive from $7.00 to $8.00 and gave the company an overweight rating in a research note on Thursday, March 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rush Street Interactive has a consensus rating of Moderate Buy and a consensus price target of $8.33.

Rush Street Interactive Price Performance

NYSE RSI opened at $7.86 on Thursday. The company has a 50 day simple moving average of $6.28 and a 200-day simple moving average of $5.13. Rush Street Interactive has a 52-week low of $2.85 and a 52-week high of $8.38.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $193.85 million during the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.85%. Research analysts predict that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Mattias Stetz sold 13,657 shares of Rush Street Interactive stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the transaction, the chief operating officer now owns 692,045 shares of the company’s stock, valued at $4,034,622.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Richard Todd Schwartz sold 23,737 shares of Rush Street Interactive stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $6.11, for a total value of $145,033.07. Following the transaction, the chief executive officer now directly owns 2,062,997 shares in the company, valued at $12,604,911.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mattias Stetz sold 13,657 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $5.83, for a total value of $79,620.31. Following the sale, the chief operating officer now owns 692,045 shares of the company’s stock, valued at approximately $4,034,622.35. The disclosure for this sale can be found here. Insiders sold 331,552 shares of company stock valued at $2,094,498 over the last 90 days. 56.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Rush Street Interactive in the third quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC raised its stake in Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after purchasing an additional 11,856 shares during the last quarter. Aigen Investment Management LP acquired a new position in Rush Street Interactive during the 4th quarter valued at $90,000. North Star Investment Management Corp. boosted its holdings in Rush Street Interactive by 303.9% in the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after purchasing an additional 15,500 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Rush Street Interactive by 665.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock worth $98,000 after purchasing an additional 19,058 shares during the last quarter. 24.78% of the stock is owned by institutional investors.

About Rush Street Interactive

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.