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Investing.com - JMP Securities has reiterated its Market Perform rating on Rush Street Interactive (NYSE:RSI), according to a research note published Tuesday. The online gaming company, which has demonstrated strong financial health according to InvestingPro data, has posted impressive returns with a nearly 50% gain over the past year.
The firm did not specify a price target for the online gaming company in its latest analysis.
JMP analyst Jordan Bender noted that RSI shares are currently trading at 19.9x 2026E consensus EBITDA, which represents a significant premium compared to other companies in the online gaming sector.
The analyst highlighted that this premium exists despite Rush Street Interactive having "lower margins, FCF conversion, and overall scale/liquidity compared to the industry."
Based on these factors, JMP views the current share price as "fairly valued," supporting its decision to maintain the Market Perform rating.
In other recent news, Rush Street Interactive has been the subject of multiple analyst reviews and product developments. Jefferies recently increased its price target for Rush Street Interactive to $18.00, maintaining a Buy rating. This adjustment reflects considerations such as tax impacts and foreign exchange movements, balanced by strong iGaming results. Meanwhile, Benchmark reiterated its Buy rating with a $17.00 price target, expecting solid second-quarter 2025 earnings due to strong iGaming engagement and platform performance, despite challenges from Colombia’s temporary VAT on deposits.
JPMorgan initiated coverage on Rush Street Interactive with a neutral rating and a $14.00 price target, acknowledging the company’s strong product capabilities and presence in the North American iGaming market. The bank noted that the current valuation appears full. Additionally, Rush Street Interactive has expanded its BetRivers PropPacks product line to include Major League Baseball, aiming to enhance the sports betting experience for baseball fans. This new feature allows customers to engage with MLB games through digital player cards and prop betting, offering potential bonus credits.
In the broader iGaming sector, Rush Street Interactive reported a 36% revenue increase in April, alongside notable growth from competitors like Caesars (NASDAQ:CZR) Entertainment and FanDuel. This growth highlights the expanding market share and revenue performance in the sector.
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