Sharplink Gaming (NASDAQ:SBET) Issues Earnings Results

Sharplink Gaming (NASDAQ:SBET) announced its quarterly earnings results on Friday. The company reported $3.45 EPS for the quarter, FiscalAI reports. Sharplink Gaming had a negative net margin of 3,406.29% and a negative return on equity of 33.40%. The firm had revenue of $13.46 million during the quarter, compared to analysts’ expectations of $10.51 million.

Sharplink Gaming Stock Down 2.8%

NASDAQ:SBET traded down $0.18 on Friday, reaching $6.24. The company’s stock had a trading volume of 10,888,724 shares, compared to its average volume of 8,867,431. Sharplink Gaming has a 1-year low of $4.46 and a 1-year high of $12.58. The business’s 50-day moving average price is $8.44 and its two-hundred day moving average price is $7.18.

Insider Transactions at Sharplink Gaming

In other news, Director Joseph Lubin sold 5,676,952 shares of the stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $8.39, for a total transaction of $47,629,627.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. B. Riley Financial reissued a “buy” rating and set a $14.00 price target (up from $12.00) on shares of Sharplink Gaming in a research note on Tuesday, September 22nd. Citizens Jmp dropped their price objective on shares of Sharplink Gaming to $30.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sharplink Gaming in a report on Friday, October 2nd. Citigroup reiterated a “market outperform” rating on shares of Sharplink Gaming in a research report on Thursday, August 13th. Finally, Wall Street Zen raised Sharplink Gaming from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 30th. Eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sharplink Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Sharplink Gaming Company Profile

SharpLink Gaming Ltd. is a technology and performance-marketing company serving the online sports betting and iGaming industries. The company provides customer-acquisition solutions designed to connect sports fans and gaming audiences with licensed betting and gaming operators through digital marketing, affiliate partnerships and related technology.

SharpLink’s activities have historically focused on the United States and other regulated online gaming markets, where it has supported operators with player acquisition, engagement and retention initiatives.