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

Rush Street Interactive (NYSE:RSI) had its price objective hoisted by Craig Hallum from $11.00 to $14.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Oppenheimer lifted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock an outperform rating in a research note on Thursday. Needham & Company LLC lifted their price objective on shares of Rush Street Interactive from $10.00 to $14.00 and gave the stock a buy rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price objective 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $11.17.

Rush Street Interactive Trading Down 5.9 %

NYSE RSI opened at $10.13 on Thursday. The firm’s fifty day simple moving average is $9.40 and its two-hundred day simple moving average is $7.47. Rush Street Interactive has a 12-month low of $3.17 and a 12-month high of $11.59. The firm has a market capitalization of $2.28 billion, a P/E ratio of -59.59 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $220.38 million for the quarter, compared to analyst estimates of $201.37 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, sell-side analysts predict that Rush Street Interactive will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rush Street Interactive

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in Rush Street Interactive in the second quarter valued at $98,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Rush Street Interactive by 13,627.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after acquiring an additional 11,856 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Rush Street Interactive by 33.2% during the 4th quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after acquiring an additional 3,764 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Rush Street Interactive during the 4th quarter worth about $90,000. Finally, North Star Investment Management Corp. boosted its stake in shares of Rush Street Interactive by 303.9% during the 1st quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock worth $134,000 after acquiring an additional 15,500 shares in the last quarter. 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.