Sharplink Gaming (NASDAQ:SBET) Announces Quarterly Earnings Results

Sharplink Gaming (NASDAQ:SBET) released its quarterly earnings data on Monday. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11, FiscalAI reports. Sharplink Gaming had a negative return on equity of 2.26% and a negative net margin of 7.86%.The firm had revenue of $13.31 million during the quarter, compared to analyst estimates of $17.19 million.

Sharplink Gaming Trading Down 7.4%

Sharplink Gaming stock opened at $7.34 on Monday. Sharplink Gaming has a 12 month low of $2.26 and a 12 month high of $124.12. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -3.07 and a beta of 11.40. The business’s fifty day simple moving average is $8.46 and its two-hundred day simple moving average is $11.96.

Analysts Set New Price Targets

Several brokerages recently commented on SBET. Canaccord Genuity Group set a $16.00 target price on shares of Sharplink Gaming and gave the stock a “buy” rating in a research note on Thursday, January 29th. Wall Street Zen lowered shares of Sharplink Gaming from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. B. Riley Financial decreased their price objective on shares of Sharplink Gaming from $19.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sharplink Gaming in a research note on Thursday, January 22nd. Finally, iA Financial set a $20.00 target price on shares of Sharplink Gaming in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sharplink Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $26.14.

Hedge Funds Weigh In On Sharplink Gaming

Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC boosted its stake in Sharplink Gaming by 767.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 28,275 shares of the company’s stock worth $253,000 after purchasing an additional 25,015 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Sharplink Gaming by 20.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 27,405 shares of the company’s stock valued at $245,000 after purchasing an additional 4,605 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Sharplink Gaming in the third quarter worth about $215,000. Meteora Capital LLC purchased a new position in Sharplink Gaming in the third quarter worth about $204,000. Finally, Magnetar Financial LLC bought a new position in shares of Sharplink Gaming in the fourth quarter worth approximately $198,000. Hedge funds and other institutional investors own 13.75% of the company’s stock.

About Sharplink Gaming

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.