What Happened?

Shares of online casino and sports betting company Rush Street Interactive (NYSE: RSI) jumped 3.1% in the afternoon session after an analyst at Susquehanna raised their price target on the stock and a favorable tax development in Colombia was reported. Susquehanna analyst Joseph Stauff maintained a "Positive" rating on the company and increased the price target to $23.00 from $22.00.

After the initial pop the shares cooled down to $19.64, up 3.6% from previous close.

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What Is The Market Telling Us

Rush Street Interactive’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 5 months ago when the stock gained 19.1% on the news that the company reported second-quarter results that topped Wall Street estimates and raised its full-year revenue guidance. 

The company's revenue climbed 22% to $269.2 million, and it reported a net income of $28.8 million, a significant turnaround from a net loss in the same quarter last year. This growth stemmed from a 25% increase in its online casino business and a 15% rise in online sports betting. The strong performance bucked a wider trend, as traditional casino operators' stocks declined, highlighting a divergence within the gaming industry. In response to the strong quarter, Wall Street analysts from firms like Needham and Oppenheimer raised their price targets on the stock.

Rush Street Interactive is up 42.9% since the beginning of the year, but at $19.64 per share, it is still trading 12.8% below its 52-week high of $22.53 from September 2025. Investors who bought $1,000 worth of Rush Street Interactive’s shares 5 years ago would now be looking at an investment worth $982.

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