Needham & Company LLC Boosts Super Group (NYSE:SGHC) Price Target to $7.00

Super Group (NYSE:SGHC) had its target price increased by analysts at Needham & Company LLC from $6.00 to $7.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 41.99% from the stock’s current price.

Several other brokerages also recently issued reports on SGHC. Oppenheimer raised Super Group from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a report on Thursday. Benchmark restated a “buy” rating and issued a $5.00 target price on shares of Super Group in a research report on Thursday, August 8th.

Super Group Trading Up 17.7 %

Shares of NYSE SGHC opened at $4.93 on Thursday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 82.17 and a beta of 0.67. Super Group has a 12-month low of $2.63 and a 12-month high of $5.07. The stock’s 50 day simple moving average is $3.82 and its 200 day simple moving average is $3.56.

Super Group (NYSE:SGHC) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). The company had revenue of $446.44 million during the quarter, compared to the consensus estimate of $436.89 million. Super Group had a return on equity of 12.17% and a net margin of 2.42%. As a group, equities analysts forecast that Super Group will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Super Group

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Super Group during the 1st quarter valued at $31,000. Bleakley Financial Group LLC acquired a new position in shares of Super Group during the 1st quarter valued at $47,000. Algert Global LLC increased its position in shares of Super Group by 54.5% during the 2nd quarter. Algert Global LLC now owns 19,036 shares of the company’s stock valued at $61,000 after purchasing an additional 6,711 shares during the period. Burns Matteson Capital Management LLC acquired a new position in shares of Super Group during the 3rd quarter valued at $70,000. Finally, AQR Capital Management LLC bought a new stake in shares of Super Group during the 2nd quarter worth $77,000. 5.09% of the stock is currently owned by institutional investors and hedge funds.

Super Group Company Profile

Super Group (SGHC) Limited operates as an online sports betting and gaming operator. It offers Betway, an online sports betting brand; and Spin, a multi-brand online casino offering. Super Group (SGHC) Limited is based in Saint Peter Port, Guernsey.