Rush Street Interactive Analysts Raise Their Forecasts After Upbeat Results
Portfolio Pulse from Avi Kapoor
Rush Street Interactive (NYSE:RSI) reported Q4 earnings surpassing expectations with adjusted earnings of 1 cent per share against expected losses and sales of $193.85 million beating estimates. CEO Richard Schwartz highlighted record revenues and adjusted EBITDA for 2023, with strong guidance for 2024 expecting revenues between $770 million to $830 million. Following the report, RSI shares rose 2.1%. Analysts from Needham and Wells Fargo raised their price targets on RSI to $8, maintaining positive ratings.
March 07, 2024 | 12:57 pm
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Rush Street Interactive reported better-than-expected Q4 results, with a positive outlook for 2024, leading to a 2.1% increase in shares and raised price targets from analysts.
The positive earnings report and upward revision of revenue guidance for 2024 indicate strong financial health and growth prospects for Rush Street Interactive, which has led to an immediate positive reaction in its stock price. Analysts' raised price targets further validate the company's growth trajectory, likely contributing to sustained investor interest and potentially higher stock prices in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100