Needham & Company LLC Lowers Super Group (NYSE:SGHC) Price Target to $8.00

Super Group (NYSE:SGHCGet Rating) had its price target cut by Needham & Company LLC from $12.00 to $8.00 in a report released on Thursday, The Fly reports. Needham & Company LLC’s price objective suggests a potential upside of 28.41% from the company’s current price.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group assumed coverage on shares of Super Group in a research report on Friday, April 22nd. They set a “buy” rating and a $14.00 price target on the stock. Oppenheimer assumed coverage on Super Group in a report on Monday, March 7th. They set an “outperform” rating and a $11.00 price target for the company. Canaccord Genuity Group began coverage on Super Group in a research note on Friday, April 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. Zacks Investment Research downgraded Super Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Finally, Benchmark lowered Super Group from a “buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.20.

NYSE:SGHC opened at $6.23 on Thursday. Super Group has a 1 year low of $6.17 and a 1 year high of $11.09. The firm has a 50-day simple moving average of $9.40.

Super Group (NYSE:SGHCGet Rating) last posted its earnings results on Wednesday, May 25th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.42). The business had revenue of $334.50 million during the quarter, compared to analysts’ expectations of $336.69 million. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts predict that Super Group will post 0.36 EPS for the current year.

Hedge funds have recently made changes to their positions in the stock. Johnson Financial Group LLC bought a new position in Super Group in the first quarter valued at about $719,000. Ronit Capital LLP bought a new position in Super Group in the first quarter valued at about $753,000. Goldman Sachs Group Inc. bought a new position in Super Group in the first quarter valued at about $433,000. Toroso Investments LLC bought a new position in Super Group in the first quarter valued at about $175,000. Finally, Neuberger Berman Group LLC bought a new position in Super Group in the first quarter valued at about $137,000. Institutional investors and hedge funds own 4.48% of the company’s stock.

Super Group Company Profile (Get Rating)

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. The company is based in Saint Peter Port, Guernsey.

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