Genius Sports (NYSE:GENI) Rating Reiterated by Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $9.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 50.75% from the stock’s current price.

Several other brokerages also recently weighed in on GENI. Citigroup assumed coverage on shares of Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Genius Sports in a research report on Tuesday, April 16th. They set a “buy” rating and a $7.50 price objective for the company. Oppenheimer restated an “outperform” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Thursday, April 4th. JMP Securities boosted their price objective on shares of Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 9th. Finally, B. Riley assumed coverage on shares of Genius Sports in a research report on Friday, April 5th. They set a “buy” rating and a $9.00 price objective for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Genius Sports currently has an average rating of “Buy” and a consensus target price of $9.36.

Genius Sports Stock Performance

NYSE GENI opened at $5.97 on Thursday. Genius Sports has a one year low of $4.62 and a one year high of $8.45. The firm has a 50 day simple moving average of $5.35 and a 200-day simple moving average of $5.86. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -15.31 and a beta of 1.96.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The firm had revenue of $119.72 million during the quarter, compared to analysts’ expectations of $116.53 million. During the same quarter in the prior year, the firm earned ($0.12) EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. Equities analysts predict that Genius Sports will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. NewEdge Wealth LLC acquired a new stake in shares of Genius Sports in the fourth quarter worth approximately $62,000. Brown Advisory Inc. acquired a new stake in shares of Genius Sports in the fourth quarter worth approximately $76,000. Virtu Financial LLC acquired a new stake in shares of Genius Sports in the first quarter worth approximately $94,000. Victory Capital Management Inc. acquired a new stake in shares of Genius Sports in the fourth quarter worth approximately $105,000. Finally, SG Americas Securities LLC acquired a new position in Genius Sports during the first quarter valued at approximately $119,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.