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

Rush Street Interactive (NYSE:RSI) had its price target boosted by equities researchers at Needham & Company LLC from $8.00 to $9.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 40.41% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Oppenheimer upped their price objective on shares of Rush Street Interactive from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. JMP Securities restated a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Susquehanna reaffirmed a “neutral” rating and issued a $6.00 price target (up previously from $5.00) on shares of Rush Street Interactive in a research report on Monday, March 4th. Wells Fargo & Company boosted their price objective on Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Craig Hallum upgraded Rush Street Interactive from a “hold” rating to a “buy” rating and raised their target price for the company from $7.00 to $8.00 in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Rush Street Interactive presently has a consensus rating of “Moderate Buy” and an average target price of $7.67.

Rush Street Interactive Price Performance

Shares of RSI opened at $6.41 on Thursday. The stock has a 50-day moving average of $6.17 and a 200-day moving average of $5.07. Rush Street Interactive has a one year low of $2.85 and a one year high of $7.31. The company has a market cap of $1.43 billion, a PE ratio of -23.74 and a beta of 1.67.

Rush Street Interactive (NYSE:RSI) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Rush Street Interactive had a negative return on equity of 28.95% and a negative net margin of 2.65%. The firm had revenue of $193.85 million during the quarter, compared to analysts’ expectations of $181.50 million. Analysts expect that Rush Street Interactive will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rush Street Interactive news, COO Mattias Stetz sold 5,001 shares of Rush Street Interactive stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $30,556.11. Following the transaction, the chief operating officer now owns 606,730 shares of the company’s stock, valued at approximately $3,707,120.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Richard Todd Schwartz sold 23,737 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $6.11, for a total transaction of $145,033.07. Following the completion of the transaction, the chief executive officer now owns 2,062,997 shares in the company, valued at $12,604,911.67. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Mattias Stetz sold 5,001 shares of Rush Street Interactive stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $6.11, for a total transaction of $30,556.11. Following the completion of the sale, 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. In the last ninety days, insiders sold 331,552 shares of company stock valued at $2,094,498. Corporate insiders own 56.96% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Several large investors have recently modified their holdings of RSI. SG Americas Securities LLC purchased a new position in Rush Street Interactive in the third quarter valued at approximately $52,000. Allspring Global Investments Holdings LLC raised its stake in shares of 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 buying an additional 11,856 shares during the period. Aigen Investment Management LP purchased a new position in shares of Rush Street Interactive during the 4th quarter valued at $90,000. Tower Research Capital LLC TRC grew its stake 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 worth $98,000 after acquiring an additional 19,058 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Rush Street Interactive in the 3rd quarter worth about $107,000. 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.