Rush Street Interactive (NYSE:RSI) PT Raised to $14.00

Rush Street Interactive (NYSE:RSI) had its target price raised by Needham & Company LLC from $10.00 to $14.00 in a report published on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Rush Street Interactive from $9.00 to $11.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Craig Hallum lifted their price objective on shares of Rush Street Interactive from $8.00 to $10.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, Oppenheimer lifted their price objective on shares of Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $11.17.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $9.25 on Thursday. The company has a market cap of $2.08 billion, a P/E ratio of -59.59 and a beta of 1.79. Rush Street Interactive has a 1 year low of $3.17 and a 1 year high of $11.59. The firm has a 50-day simple moving average of $9.40 and a two-hundred day simple moving average of $7.47.

Rush Street Interactive (NYSE:RSI) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative net margin of 0.84% and a negative return on equity of 12.65%. The firm had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. As a group, equities research analysts expect that Rush Street Interactive will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Rush Street Interactive

Several institutional investors and hedge funds have recently bought and sold shares of RSI. Assenagon Asset Management S.A. grew its holdings in Rush Street Interactive by 157.9% in the second quarter. Assenagon Asset Management S.A. now owns 1,425,016 shares of the company’s stock worth $13,666,000 after purchasing an additional 872,367 shares during the last quarter. Nomura Holdings Inc. lifted its stake in shares of Rush Street Interactive by 24.7% during the fourth quarter. Nomura Holdings Inc. now owns 4,184,373 shares of the company’s stock worth $18,788,000 after buying an additional 828,984 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Rush Street Interactive during the first quarter worth $1,673,000. SG Americas Securities LLC acquired a new stake in shares of Rush Street Interactive during the second quarter worth $1,565,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Rush Street Interactive during the second quarter worth $868,000. 24.78% of the stock is owned by hedge funds and other institutional investors.

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.