Rush Street Interactive (NYSE:RSI) Issues Quarterly Earnings Results

Rush Street Interactive (NYSE:RSI) issued its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06, Briefing.com reports. The business had revenue of $220.38 million during the quarter, compared to the consensus estimate of $201.37 million. Rush Street Interactive had a negative return on equity of 15.68% and a negative net margin of 1.58%. The company’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same period last year, the company earned ($0.08) EPS. Rush Street Interactive updated its FY 2024 guidance to EPS.

Rush Street Interactive Stock Performance

Shares of RSI traded up $0.76 during midday trading on Thursday, hitting $10.77. 3,739,757 shares of the stock were exchanged, compared to its average volume of 1,551,752. Rush Street Interactive has a 52-week low of $3.17 and a 52-week high of $11.58. The stock has a fifty day simple moving average of $9.33 and a 200 day simple moving average of $7.36. The firm has a market cap of $2.42 billion, a P/E ratio of -61.76 and a beta of 1.79.

Analysts Set New Price Targets

A number of brokerages have commented on RSI. Wells Fargo & Company lifted their target price on shares of Rush Street Interactive from $11.00 to $13.00 and gave the stock an “overweight” rating in a research note on Thursday. Oppenheimer lifted their price target on shares of Rush Street Interactive from $10.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday. Craig Hallum raised their target price on Rush Street Interactive from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC lifted their target price on Rush Street Interactive from $10.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.17.

About Rush Street Interactive

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.