Rush Street Interactive Inc (NYSE: RSI) Could See Prices Soar In The Coming Months

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In today’s recent session, 0.75 million shares of the Rush Street Interactive Inc (NYSE:RSI) have been traded, and its beta is 1.60. Most recently the company’s share price was $6.80, and it changed around $0.29 or 4.53% from the last close, which brings the market valuation of the company to $520.85M. RSI at last check was trading at a discount to its 52-week high of $7.31, offering almost -7.5% off that amount. The share price’s 52-week low was $2.77, which indicates that the recent value has risen by an impressive 59.26% since then. We note from Rush Street Interactive Inc’s average daily trading volume that its 10-day average is 1.76 million shares, with the 3-month average coming to 1.22 million.

Rush Street Interactive Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended RSI as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Rush Street Interactive Inc is expected to report earnings per share of -$0.02 for the current quarter.

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Rush Street Interactive Inc (NYSE:RSI) trade information

Instantly RSI has been showing a green trend so far today with a performance of 4.53% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 51.56% year-to-date, but still up 3.73% over the last five days. On the other hand, Rush Street Interactive Inc (NYSE:RSI) is 16.32% up in the 30-day period. We can see from the shorts that 2.19 million shares have been sold at a short interest cover period of 1.7 day(s).

The consensus price target as assigned by Wall Street analysts is $11.33, which translates to bulls needing to increase their stock price by 39.98% from its current value. Analyst projections state that RSI is forecast to be at a low of $6 and a high of $20.

Rush Street Interactive Inc (RSI) estimates and forecasts

Rush Street Interactive Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 48.26 percent over the past six months and at a 42.86% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 75.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 15.50%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $196.88 million in revenue for the current quarter. 9 analysts expect Rush Street Interactive Inc to make $190.2 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $162.36 million and $157.63 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 21.30%. Forecasts for the next quarter put sales growth at 20.70%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 23.52%.

RSI Dividends

Rush Street Interactive Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.

Rush Street Interactive Inc (NYSE:RSI)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 8.21% of Rush Street Interactive Inc shares, and 72.27% of them are in the hands of institutional investors. The stock currently has a share float of 78.73%. Rush Street Interactive Inc stock is held by 149 institutions, with HG Vora Capital Management, LLC being the largest institutional investor. By Dec 30, 2023, it held 9.15% of the shares, which is about 7.0 million shares worth $47.77 million.

Canyon Capital Advisors LLC, with 7.49% or 5.74 million shares worth $39.14 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jan 30, 2024. The former held 1.59 million shares worth $10.85 million, making up 2.08% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.59 million shares worth around $10.83 million, which represents about 2.07% of the total shares outstanding.