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

Rush Street Interactive (NYSE:RSI) had its price objective boosted by analysts at Needham & Company LLC from $10.00 to $14.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 40.00% from the company’s current price.

Several other equities research analysts also recently issued reports on RSI. Oppenheimer increased their price objective on shares of Rush Street Interactive from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased 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. Finally, Craig Hallum raised their target price on shares of Rush Street Interactive from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Rush Street Interactive Price Performance

Shares of NYSE RSI opened at $10.00 on Thursday. The company’s 50 day simple moving average is $9.33 and its 200 day simple moving average is $7.36. Rush Street Interactive has a fifty-two week low of $3.17 and a fifty-two week high of $10.55. The firm has a market capitalization of $2.25 billion, a P/E ratio of -58.82 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. Rush Street Interactive had a negative net margin of 1.58% and a negative return on equity of 15.68%. The business had revenue of $217.43 million for the quarter, compared to analyst estimates of $203.05 million. Sell-side analysts expect that Rush Street Interactive will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Rush Street Interactive

Several hedge funds and other institutional investors have recently made changes to their positions in RSI. SG Americas Securities LLC boosted its stake in shares of Rush Street Interactive by 33.2% during the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock valued at $68,000 after purchasing an additional 3,764 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position 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 valued at $78,000 after acquiring an additional 11,856 shares during the period. Aigen Investment Management LP acquired a new position in shares of Rush Street Interactive during the 4th quarter valued at $90,000. Tower Research Capital LLC TRC lifted its position in shares of Rush Street Interactive by 665.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,923 shares of the company’s stock valued at $98,000 after acquiring an additional 19,058 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in Rush Street Interactive during the 2nd quarter valued at $98,000. 24.78% of the stock is owned by institutional investors.

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.