Is Rush Street Interactive, Inc. overvalued or undervalued?

As of 30 April 2025, the valuation grade for Rush Street Interactive, Inc. has moved from expensive to fair. The company appears to be fairly valued at this time. Key ratios include a P/E ratio of 146, an EV to EBITDA of 37.29, and a PEG ratio of 1.01, indicating that while the P/E is high, the growth expectations may justify it.
In comparison to peers, Rush Street's P/E of 151.37 is significantly higher than Everi Holdings, Inc. at 43.02, which is considered very expensive, and Bally's Corp., which has a negative P/E of -1.44 and is classified as risky. Notably, Rush Street has outperformed the S&P 500 in various time frames, including a 50% return over the past year compared to the S&P 500's 10.26%, reinforcing the notion that the stock is positioned well within its market context.