Cantor Fitzgerald Issues Positive Forecast for Sharplink Gaming (NASDAQ:SBET) Stock Price

Sharplink Gaming (NASDAQ:SBET) had its price target hoisted by equities research analysts at Cantor Fitzgerald from $8.30 to $17.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 99.06% from the stock’s previous close.

A number of other brokerages also recently commented on SBET. Canaccord Genuity Group lowered their price target on shares of Sharplink Gaming from $16.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Citigroup reissued a “market outperform” rating on shares of Sharplink Gaming in a research note on Thursday, August 13th. Weiss Ratings upgraded Sharplink Gaming from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 6th. TD Cowen reaffirmed a “buy” rating and issued a $13.00 price objective (down from $16.00) on shares of Sharplink Gaming in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded Sharplink Gaming from a “strong sell” rating to a “sell” rating in a report on Sunday, August 30th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

Sharplink Gaming Stock Performance

NASDAQ SBET opened at $8.54 on Thursday. The company has a market capitalization of $1.86 billion, a P/E ratio of 170.80 and a beta of 10.56. Sharplink Gaming has a one year low of $4.46 and a one year high of $19.53. The stock has a 50 day moving average price of $6.75 and a 200-day moving average price of $6.66.

Sharplink Gaming (NASDAQ:SBET) last announced its quarterly earnings results on Saturday, August 8th. The company reported ($1.88) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.89). Sharplink Gaming had a negative return on equity of 33.40% and a negative net margin of 3,406.29%.The business had revenue of $11.53 million during the quarter, compared to the consensus estimate of $12.26 million. As a group, equities analysts predict that Sharplink Gaming will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Sharplink Gaming

A number of large investors have recently made changes to their positions in SBET. Caitong International Asset Management Co. Ltd bought a new position in Sharplink Gaming during the 3rd quarter valued at about $49,000. Empowered Funds LLC bought a new stake in Sharplink Gaming in the fourth quarter worth about $56,000. Independent Financial Group LLC bought a new stake in Sharplink Gaming in the first quarter worth about $65,000. NewEdge Advisors LLC purchased a new position in shares of Sharplink Gaming during the second quarter valued at approximately $101,000. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Sharplink Gaming during the first quarter valued at approximately $71,000. 13.75% of the stock is 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.