Sharplink Gaming (NASDAQ:SBET) Raised to Strong-Buy at Cantor Fitzgerald

Sharplink Gaming (NASDAQ:SBET) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

SBET has been the subject of a number of other reports. Weiss Ratings restated a “sell (d)” rating on shares of Sharplink Gaming in a research report on Wednesday, October 8th. Citizens Jmp assumed coverage on Sharplink Gaming in a research report on Thursday, October 16th. They issued a “mkt outperform” rating and a $50.00 price objective on the stock. Zacks Research raised shares of Sharplink Gaming to a “hold” rating in a report on Friday, October 17th. Sanford C. Bernstein initiated coverage on shares of Sharplink Gaming in a research note on Friday, October 31st. They issued an “outperform” rating and a $24.00 target price for the company. Finally, B. Riley dropped their price target on shares of Sharplink Gaming from $32.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Sharplink Gaming Trading Up 6.0%

SBET opened at $10.27 on Monday. The firm has a 50 day moving average of $10.59 and a two-hundred day moving average of $15.39. The firm has a market capitalization of $2.02 billion, a PE ratio of -4.30 and a beta of 11.12. 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

A number of large investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Sharplink Gaming during the third quarter valued at $49,000. NewEdge Advisors LLC purchased a new position in Sharplink Gaming in the 2nd quarter valued at about $101,000. IFP Advisors Inc acquired a new stake in Sharplink Gaming in the 3rd quarter worth about $102,000. Global Retirement Partners LLC purchased a new stake in Sharplink Gaming during the 3rd quarter worth approximately $103,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Sharplink Gaming during the third quarter valued at approximately $144,000. 13.75% of the stock is currently owned by institutional investors and hedge funds.

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.