- Analysts lowered the price target on Rush Street Interactive Inc (NYSE:RSI) following the company's Q4 results.
- Craig-Hallum analyst Ryan Sigdahl downgraded to Hold from Buy with a $10 price target, implying a 25% upside.
- Wells Fargo maintained Equal-Weight on the company and reduced the price target from $16 to $11, implying a 37% upside.
- Oppenheimer analyst Jed Kelly lowered the price target from $14 to $11 and kept an Outperform rating on the shares.
- Needham maintained Buy on the company and lowered the price target from $17 to $12, implying a 50% upside.
- The company reported fourth-quarter FY21 sales growth of 31% year-on-year, to $130.6 million, missing the consensus of $135.84 million.
- Real-Money Monthly Active Users (MAUs) in the U.S. rose 28% Y/Y with average revenue per MAU (ARPMAU) of $327 in Q4.
- The operating costs and expenses rose 16.8% Y/Y to $167.6 million. The operating loss for the quarter was $(37.1) million versus $(43.5) million last year.
- The company held $281 million in cash and equivalents as of December 31, 2021.
- Adjusted EBITDA loss widened to $(31.2) million. EPS loss of $(0.17) missed the consensus of $(0.11).
- Outlook: Rush street sees FY22 sales of $580 million - $630 million versus the consensus of $611 million.
- Price Action: RSI shares are trading lower by 22.2% at $7.90 on the last check Thursday.
