Analysts Set Sharplink Gaming Inc. (NASDAQ:SBET) PT at $32.29

Sharplink Gaming Inc. (NASDAQ:SBET) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One 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 1 year price objective among analysts that have issued ratings on the stock in the last year is $30.25.

Several equities research analysts have issued reports on SBET shares. Canaccord Genuity Group set a $16.00 target price on Sharplink Gaming and gave the stock a “buy” rating in a research report on Thursday. JMP Securities started coverage on Sharplink Gaming in a research note on Thursday, October 16th. They set a “market outperform” rating and a $50.00 price objective on the stock. B. Riley dropped their price objective on Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Cantor Fitzgerald began coverage on Sharplink Gaming in a report on Monday, January 5th. They set an “overweight” rating and a $15.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sharplink Gaming in a report on Thursday, January 22nd.

Sharplink Gaming Trading Down 12.3%

Shares of SBET stock opened at $7.79 on Thursday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -3.26 and a beta of 11.28. The firm’s 50 day moving average is $9.97 and its 200 day moving average is $14.49. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12.

Hedge Funds Weigh In On Sharplink Gaming

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sharplink Gaming during the 3rd quarter valued at about $49,000. IFP Advisors Inc bought a new position in shares of Sharplink Gaming in the 3rd quarter worth $102,000. Global Retirement Partners LLC purchased a new position in Sharplink Gaming in the third quarter worth $103,000. Highbridge Capital Management LLC bought a new position in Sharplink Gaming in the third quarter valued at $144,000. Finally, R Squared Ltd purchased a new stake in Sharplink Gaming during the fourth quarter valued at about $90,000. 13.75% of the stock is currently owned by hedge funds and other institutional investors.

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.