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The latest update is out from SharpLink Gaming ( (SBET) ).
Sharplink, one of the largest corporate holders of Ether, reported first-quarter 2026 results on May 11, 2026, highlighting a sharp jump in revenue to $12.1 million from $0.7 million a year earlier, driven by its actively managed ETH treasury strategy launched in June 2025. The quarter also saw a steep increase in SG&A to $9.9 million as the company scaled infrastructure and talent, and a net loss of $685.6 million largely from non-cash unrealized losses and impairments on ETH-related positions that did not reduce its ETH holdings.
As of March 31, 2026, Sharplink held about 870,821 ETH, rising to 872,984 ETH by May 4, 2026, with crypto assets valued at roughly $1.7 billion on a U.S. GAAP basis and ETH per share more than doubling since inception of its Ethereum treasury strategy. The company has brought most treasury management in-house, generated 18,800 ETH in total staking rewards since June 2025, and on May 9, 2026 entered a non-binding memorandum of understanding with Galaxy Digital to form the Galaxy Sharplink Onchain Yield Fund, an approximately $125 million onchain yield initiative aimed at boosting ETH productivity and liquidity for emerging protocols.
The most recent analyst rating on (SBET) stock is a Buy with a $11.00 price target. To see the full list of analyst forecasts on SharpLink Gaming stock, see the SBET Stock Forecast page.
Spark’s Take on SBET Stock
According to Spark, TipRanks’ AI Analyst, SBET is a Neutral.
The score is held down primarily by weak financial performance—large losses and negative operating/free cash flow—despite a currently low-debt balance sheet. Earnings-call commentary adds some support via strong staking/revenue growth and a clearer strategy, but technicals remain only neutral and valuation signals (P/E and dividend) provide little support based on the provided data.
To see Spark’s full report on SBET stock, click here.
More about SharpLink Gaming
Sharplink, Inc. is a Miami-based, institutional-grade Ethereum treasury platform that provides public market investors with targeted exposure to Ether. The company manages a large ETH portfolio aimed at yield generation and long-term network growth and also operates an online affiliate marketing business, positioning itself at the intersection of digital assets and traditional capital markets.
Average Trading Volume: 6,907,444
Technical Sentiment Signal: Sell
Current Market Cap: $1.47B
See more insights into SBET stock on TipRanks’ Stock Analysis page.