Needham & Company LLC Raises Rush Street Interactive (NYSE:RSI) Price Target to $9.00

Rush Street Interactive (NYSE:RSI) had its target price raised by Needham & Company LLC from $8.00 to $9.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

RSI has been the topic of several other research reports. JMP Securities reiterated a market perform rating on shares of Rush Street Interactive in a research note on Friday, March 8th. Oppenheimer upped their price objective on Rush Street Interactive from $7.00 to $9.00 and gave the company an outperform rating in a research note on Thursday, March 7th. Craig Hallum upgraded Rush Street Interactive from a hold rating to a buy rating and upped their price objective for the company from $7.00 to $8.00 in a research note on Friday, April 19th. Susquehanna restated a neutral rating and set a $6.00 target price (up previously from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Finally, Wells Fargo & Company increased their target price on Rush Street Interactive from $7.00 to $8.00 and gave the stock an overweight rating in a research report on Thursday, March 7th. Two equities 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 presently has a consensus rating of Moderate Buy and a consensus price target of $8.33.

Rush Street Interactive Stock Up 4.1 %

RSI stock opened at $7.86 on Thursday. The firm has a market cap of $1.75 billion, a PE ratio of -46.24 and a beta of 1.67. The business has a 50 day moving average of $6.28 and a 200-day moving average of $5.14. Rush Street Interactive has a 12-month low of $2.85 and a 12-month high of $8.38.

Rush Street Interactive (NYSE:RSI) last released its earnings results on Wednesday, March 6th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.01. The company had revenue of $193.85 million during the quarter, compared to analyst estimates of $181.50 million. Rush Street Interactive had a negative return on equity of 15.85% and a negative net margin of 1.58%. On average, research analysts expect that Rush Street Interactive will post -0.22 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Mattias Stetz sold 5,001 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $6.11, for a total value of $30,556.11. Following the sale, the chief operating officer now owns 606,730 shares in the company, valued at $3,707,120.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Richard Todd Schwartz sold 38,687 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $5.83, for a total value of $225,545.21. Following the sale, the chief executive officer now owns 2,256,569 shares in the company, valued at $13,155,797.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Mattias Stetz sold 5,001 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $6.11, for a total value of $30,556.11. Following the completion of the transaction, the chief operating officer now directly owns 606,730 shares in the company, valued at approximately $3,707,120.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 331,552 shares of company stock worth $2,094,498. Corporate insiders own 56.96% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in Rush Street Interactive in the third quarter valued at $52,000. Allspring Global Investments Holdings LLC increased its stake in Rush Street Interactive by 13,627.6% in the first 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 last quarter. Aigen Investment Management LP bought a new position in Rush Street Interactive in the fourth quarter valued at $90,000. North Star Investment Management Corp. increased its stake in Rush Street Interactive by 303.9% in the first quarter. North Star Investment Management Corp. now owns 20,600 shares of the company’s stock valued at $134,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Rush Street Interactive by 665.2% in the fourth 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 last quarter. Institutional investors own 24.78% of the company’s stock.

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.