Rush Street Interactive (NYSE:RSI) Given New $14.00 Price Target at Needham & Company LLC

Rush Street Interactive (NYSE:RSI) had its price target increased by Needham & Company LLC from $10.00 to $14.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. Oppenheimer boosted their target price on Rush Street Interactive from $9.00 to $10.00 and gave the company an outperform rating in a research report on Thursday, May 2nd. Wells Fargo & Company boosted their target price on Rush Street Interactive from $9.00 to $11.00 and gave the company an overweight rating in a research report on Tuesday, July 16th. Finally, Craig Hallum boosted their target price on Rush Street Interactive from $8.00 to $10.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $11.17.

Rush Street Interactive Stock Down 5.1 %

NYSE RSI traded down $0.55 during trading hours on Thursday, hitting $10.22. 1,186,545 shares of the company were exchanged, compared to its average volume of 1,548,854. The stock has a 50-day moving average price of $9.38 and a 200 day moving average price of $7.38. Rush Street Interactive has a 52 week low of $3.17 and a 52 week high of $11.59. The stock has a market cap of $2.30 billion, a PE ratio of -58.06 and a beta of 1.79.

Rush Street Interactive (NYSE:RSI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. Rush Street Interactive had a negative return on equity of 12.65% and a negative net margin of 0.84%. The company had revenue of $220.38 million for the quarter, compared to analysts’ expectations of $201.37 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Rush Street Interactive will post -0.05 earnings per share for the current year.

Institutional Trading of Rush Street Interactive

A number of large investors have recently modified their holdings of RSI. SG Americas Securities LLC raised its stake in Rush Street Interactive by 33.2% in the fourth quarter. SG Americas Securities LLC now owns 15,108 shares of the company’s stock worth $68,000 after buying an additional 3,764 shares in the last quarter. Allspring Global Investments Holdings LLC raised 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 worth $78,000 after buying an additional 11,856 shares in the last quarter. Aigen Investment Management LP bought a new position in Rush Street Interactive in the fourth quarter worth approximately $90,000. Tower Research Capital LLC TRC raised 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 worth $98,000 after buying an additional 19,058 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Rush Street Interactive in the second quarter worth approximately $98,000. Hedge funds and other institutional investors own 24.78% of the company’s stock.

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.