Oppenheimer Increases Rush Street Interactive (NYSE:RSI) Price Target to $10.00

Rush Street Interactive (NYSE:RSI) had its target price hoisted by Oppenheimer from $9.00 to $10.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 27.23% from the company’s previous close.

Several other equities research analysts have also recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Rush Street Interactive from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Craig Hallum upgraded shares of Rush Street Interactive from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.00 to $8.00 in a report on Friday, April 19th. Susquehanna restated a “neutral” rating and set a $6.00 target price (up from $5.00) on shares of Rush Street Interactive in a report on Monday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of Rush Street Interactive in a report on Friday, March 8th. Finally, Needham & Company LLC raised their price objective on Rush Street Interactive from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.33.

Rush Street Interactive Price Performance

Shares of NYSE RSI traded up $0.31 during mid-day trading on Thursday, reaching $7.86. 4,314,466 shares of the company traded hands, compared to its average volume of 1,325,317. Rush Street Interactive has a fifty-two week low of $2.85 and a fifty-two week high of $8.38. The firm has a market cap of $1.75 billion, a PE ratio of -46.24 and a beta of 1.67. The stock has a fifty day simple moving average of $6.28 and a 200-day simple moving average of $5.13.

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

Insider Transactions at Rush Street Interactive

In other Rush Street Interactive news, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the sale, the chief executive officer now directly owns 2,154,618 shares of the company’s stock, valued at approximately $14,608,310.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Mattias Stetz sold 5,001 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 606,730 shares of the company’s stock, valued at $3,707,120.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Todd Schwartz sold 101,951 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $6.78, for a total transaction of $691,227.78. Following the transaction, the chief executive officer now directly owns 2,154,618 shares in the company, valued at $14,608,310.04. The disclosure for this sale can be found here. Insiders have sold a total of 331,552 shares of company stock valued at $2,094,498 over the last ninety days. Corporate insiders own 56.96% of the company’s stock.

Institutional Investors Weigh In On Rush Street Interactive

Institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Rush Street Interactive in the first quarter worth $148,000. North Star Investment Management Corp. grew 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 purchasing an additional 15,500 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Rush Street Interactive by 13,627.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 11,943 shares of the company’s stock worth $78,000 after purchasing an additional 11,856 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in shares of Rush Street Interactive during the 1st quarter worth about $184,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Rush Street Interactive during the 1st quarter worth about $167,000. Institutional investors and hedge funds 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.