Wall Street brokerages predict that Esports Entertainment Group, Inc. (NASDAQ:GMBL – Get Rating) will post $18.07 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Esports Entertainment Group’s earnings. The lowest sales estimate is $17.20 million and the highest is $19.30 million. Esports Entertainment Group reported sales of $5.40 million during the same quarter last year, which indicates a positive year over year growth rate of 234.6%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Esports Entertainment Group will report full year sales of $70.41 million for the current year, with estimates ranging from $69.00 million to $72.20 million. For the next fiscal year, analysts forecast that the firm will post sales of $94.87 million, with estimates ranging from $90.01 million to $100.50 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Esports Entertainment Group.
A number of equities analysts recently issued reports on the company. Benchmark lowered their price target on Esports Entertainment Group from $20.00 to $4.00 and set a “speculative buy” rating for the company in a report on Wednesday, February 23rd. Roth Capital downgraded Esports Entertainment Group from a “buy” rating to a “neutral” rating in a report on Thursday, February 24th. Zacks Investment Research raised Esports Entertainment Group from a “hold” rating to a “buy” rating and set a $0.75 price target for the company in a report on Tuesday. Finally, HC Wainwright lowered their price target on Esports Entertainment Group from $14.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, February 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $8.95.
A number of hedge funds and other institutional investors have recently modified their holdings of GMBL. UBS Group AG lifted its stake in Esports Entertainment Group by 54.5% in the third quarter. UBS Group AG now owns 5,369 shares of the company’s stock valued at $36,000 after buying an additional 1,895 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Esports Entertainment Group during the fourth quarter worth approximately $40,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Esports Entertainment Group during the fourth quarter worth approximately $54,000. PEAK6 Investments LLC purchased a new stake in shares of Esports Entertainment Group during the fourth quarter worth approximately $74,000. Finally, Millennium Management LLC purchased a new stake in shares of Esports Entertainment Group during the third quarter worth approximately $75,000. Institutional investors own 12.72% of the company’s stock.
Shares of GMBL opened at $0.59 on Friday. The stock has a 50 day moving average price of $0.85 and a 200 day moving average price of $3.24. The company has a market capitalization of $15.15 million, a price-to-earnings ratio of -0.24 and a beta of 0.93. Esports Entertainment Group has a 52-week low of $0.54 and a 52-week high of $13.74.
Esports Entertainment Group Company Profile (Get Rating)
Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions, such as game licensing and payments.
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