In a report released yesterday, David Katz from Jefferies reiterated a Buy rating on Rush Street Interactive (RSI – Research Report), with a price target of $11.00.
David Katz has given his Buy rating due to a combination of factors that highlight the promising progress of Rush Street Interactive (RSI). The company’s recent quarterly performance underscores its successful execution and reflects its potential to achieve profitability and positive cash flow in the near future. Despite RSI being one of the lesser-known entities in the digital gaming industry, Katz believes that this is likely to change as the company continues to exhibit robust growth.
A key factor contributing to Katz’s favorable rating is the company’s impressive third-quarter results released on November 1st. RSI reported revenue of $169.9 million, exceeding both Katz’s and the broader market’s expectations. Additionally, the company reported an adjusted EBITDA gain of $4.1 million. Given these strong results, Katz expects the market to react positively and reaffirms his Buy rating for RSI.
See today’s best-performing stocks on TipRanks >>
Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RSI in relation to earlier this year.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Rush Street Interactive (RSI) Company Description:
Rush Street Interactive is an online gaming company. It offers online casino and sports betting under BetRivers.com and PlaySugarHouse.com brands in the U.S. and RushBet.co brand in Colombia.
Read More on RSI:
- Rush Street Interactive Announces Third Quarter 2023 Results
- Bet On It: Supreme Court allows Florida to offer sports betting, no timeline set
- Bet On It: Massachusetts could delay ESPN Bet launch
- Rush Street Interactive Announces Third Quarter 2023 Earnings Release Date
- NeoGames’ PariPlay enters Pennsylvania with Rush Street Interactive
