Rush Street Interactive Inc: Jefferies raises target price to $38 from $32

Jefferies has raised its price target for Rush Street Interactive Inc (NYSE: RSI) to $38 from $32, while maintaining a Buy rating on the online gaming company. The stock is currently trading at $14.92, with a market capitalization of $3.42 billion. Over the past year, RSI has delivered a 70.87% return, reflecting strong investor confidence and solid financial performance.

Jefferies revised its estimates for Rush Street Interactive, forecasting second-quarter 2025 revenue at $253 million, full-year 2025 revenue at $1.07 billion, and fiscal year 2026 revenue at $1.24 billion. These figures exceed consensus estimates of $249 million, $1.05 billion, and $1.20 billion, respectively. The firm also raised its EV/Sales multiple to 3.5x from 3x, contributing to the increased price target.

Recent earnings results highlight the company’s strong performance, with Q1 2025 earnings surpassing expectations. Rush Street Interactive reported an EPS of $0.09, above the forecast of $0.07, and revenue of $262.4 million, exceeding the projected $258.85 million. The company also reported a 21% year-over-year revenue increase, driven by growth in online casino and sports betting operations.