Genius Sports Limited (NYSE:GENI) Receives $9.45 Average PT from Brokerages

Shares of Genius Sports Limited (NYSE:GENI) have been assigned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.45.

Several equities research analysts have recently issued reports on the stock. JMP Securities raised their target price on shares of Genius Sports from $8.00 to $9.00 and gave the stock a “market outperform” rating in a report on Thursday, May 9th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, August 6th. The Goldman Sachs Group upped their target price on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Macquarie decreased their price target on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Thursday, July 18th. Finally, B. Riley upped their price objective on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th.

Institutional Trading of Genius Sports

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Genius Sports by 383.6% during the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after purchasing an additional 5,772,540 shares during the period. Ophir Asset Management Pty Ltd purchased a new position in Genius Sports during the fourth quarter valued at approximately $21,961,000. Divisadero Street Capital Management LP purchased a new position in Genius Sports during the second quarter valued at approximately $11,233,000. Nikko Asset Management Americas Inc. lifted its holdings in Genius Sports by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Genius Sports by 25.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after acquiring an additional 1,702,602 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors.

Genius Sports Price Performance

Shares of NYSE GENI opened at $7.85 on Friday. Genius Sports has a 1-year low of $4.62 and a 1-year high of $8.15. The business’s 50 day moving average is $6.16 and its two-hundred day moving average is $5.98. The stock has a market capitalization of $1.80 billion, a P/E ratio of -20.13 and a beta of 1.95.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.06). Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The company had revenue of $95.50 million for the quarter, compared to the consensus estimate of $94.15 million. During the same period in the prior year, the firm posted ($0.05) EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Genius Sports will post -0.17 earnings per share for the current fiscal year.

Genius Sports Company Profile

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.