In a report released yesterday, Jack Vander Aarde from Maxim Group reiterated a Buy rating on Esports Entertainment Group (GMBL), with a price target of $30.00. The company’s shares closed last Wednesday at $11.75.
According to TipRanks.com, Aarde is a top 25 analyst with an average return of 112.5% and a 75.0% success rate. Aarde covers the Technology sector, focusing on stocks such as Summit Wireless Technologies, BIO-key International, and WiMi Hologram Cloud.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Esports Entertainment Group with a $22.50 average price target, a 101.4% upside from current levels. In a report issued on May 18, Noble Financial also maintained a Buy rating on the stock with a $20.00 price target.
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Based on Esports Entertainment Group’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $5.4 million and GAAP net loss of $12.44 million. In comparison, last year the company had a GAAP net loss of $6.31 million.
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Esports Entertainment Group, Inc. operates as an online gambling platform. It offers bet exchange style wagering on esports events in a licensed, regulated and secure platform to the global esports audience. The company was founded on July 22, 2008 and is headquartered in Malta, Antigua and Barbuda.
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