Rush Street Interactive (NYSE:RSI) Price Target Increased to $10.00 by Analysts at Oppenheimer

Rush Street Interactive (NYSE:RSI) had its target price upped by investment analysts at Oppenheimer from $9.00 to $10.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 56.01% from the company’s previous close.

Other analysts also recently issued research reports about the company. Needham & Company LLC raised their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a research report on Friday, March 8th. Susquehanna reissued a “neutral” rating and issued a $6.00 price objective (up previously from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. Wells Fargo & Company increased their price target on Rush Street Interactive from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, March 7th. Finally, Craig Hallum upgraded Rush Street Interactive from a “hold” rating to a “buy” rating and increased their price target for the company from $7.00 to $8.00 in a research note on Friday, April 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.83.

Rush Street Interactive Stock Up 0.3 %

RSI stock opened at $6.41 on Thursday. The business’s fifty day moving average is $6.17 and its 200-day moving average is $5.07. The company has a market cap of $1.43 billion, a P/E ratio of -23.74 and a beta of 1.67. Rush Street Interactive has a twelve month low of $2.85 and a twelve month high of $7.31.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $193.85 million for the quarter, compared to the consensus estimate of $181.50 million. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. Research analysts anticipate that Rush Street Interactive will post -0.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, insider Paul Wierbicki sold 22,743 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total transaction of $132,591.69. Following the transaction, the insider now owns 174,982 shares in the company, valued at approximately $1,020,145.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Paul Wierbicki sold 22,743 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $132,591.69. Following the transaction, the insider now owns 174,982 shares in the company, valued at $1,020,145.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Todd Schwartz sold 38,687 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $225,545.21. Following the completion of the transaction, the chief executive officer now owns 2,256,569 shares in the company, valued at approximately $13,155,797.27. The disclosure for this sale can be found here. Insiders have sold 331,552 shares of company stock worth $2,094,498 in the last 90 days. Company insiders own 56.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Rush Street Interactive in the third quarter valued at about $52,000. Allspring Global Investments Holdings LLC boosted its stake in Rush Street Interactive by 13,627.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock valued at $78,000 after buying an additional 11,856 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Rush Street Interactive in the fourth quarter valued at about $90,000. Tower Research Capital LLC TRC boosted its stake in Rush Street Interactive by 665.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock valued at $98,000 after buying an additional 19,058 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Rush Street Interactive in the third quarter valued at about $107,000. Institutional investors own 24.78% of the company’s stock.

Rush Street Interactive Company Profile

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.