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Needham Remains a Buy on Esports Technologies (EBET)

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Needham analyst Chris Pierce reiterated a Buy rating on Esports Technologies (EBETResearch Report) today and set a price target of $18.00. The company’s shares closed last Friday at $10.91, close to its 52-week low of $9.33.

Pierce has an average return of 0.5% when recommending Esports Technologies.

According to TipRanks.com, Pierce is ranked #7582 out of 7790 analysts.

Esports Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $18.00.

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Based on Esports Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $78.82K and GAAP net loss of $6.12 million. In comparison, last year the company earned revenue of $54.16K and had a GAAP net loss of $527.2K.

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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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