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Needham Initiates a Buy Rating on Esports Technologies (EBET)

In a report released today, Chris Pierce from Needham initiated coverage with a Buy rating on Esports Technologies (EBETResearch Report) and a price target of $18.00. The company’s shares closed last Friday at $11.05, close to its 52-week low of $9.33.

According to TipRanks.com, Pierce is ranked #7614 out of 7783 analysts.

Currently, the analyst consensus on Esports Technologies is a Moderate Buy with an average price target of $18.00.

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The company has a one-year high of $54.00 and a one-year low of $9.33. Currently, Esports Technologies has an average volume of 85.06K.

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Esports Technologies Inc is a technology company developing and operating platforms focused on esports and competitive gaming. It operates a licensed online gambling platform, which is an esports/sportsbook focused on bettors located in Asia and Latin America. It offers real money betting on esports events from around the world in a secure environment. It accepts wagers on esports titles including Counter-Strike: GO, League of Legends, Dota 2, StarCraft 2, Rocket League, Rainbow Six, Warcraft 3, King of Glory, and FIFA, as well as professional sports including the NFL, NBA, MLB, soccer and more. It generates revenue as customers lose their bets and it has a liability to pay out winnings to customers who win their bets.

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