Genius Sports (NYSE:GENI) Given Buy Rating at Benchmark

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by research analysts at Benchmark in a research note issued on Friday, Benzinga reports. They currently have a $10.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 32.80% from the company’s current price.

GENI has been the subject of several other reports. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. Macquarie decreased their target price 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. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Tuesday, August 6th. B. Riley raised their price objective on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Citigroup initiated coverage on shares of Genius Sports in a research note on Thursday, June 13th. They set a “buy” rating and a $9.00 price objective on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports presently has an average rating of “Buy” and an average price target of $9.45.

Genius Sports Price Performance

NYSE:GENI traded up $0.18 during trading hours on Friday, reaching $7.53. The company’s stock had a trading volume of 910,253 shares, compared to its average volume of 2,302,963. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -17.56 and a beta of 1.96. The business’s 50-day moving average is $7.44 and its 200-day moving average is $6.19. Genius Sports has a one year low of $4.62 and a one year high of $8.64.

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 analysts’ consensus estimates of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The firm had revenue of $95.50 million for the quarter, compared to analyst estimates of $94.15 million. During the same period last year, the business earned ($0.05) earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, sell-side analysts predict that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of 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 in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Genius Sports in the 2nd quarter valued at approximately $11,233,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after purchasing an additional 1,702,602 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Genius Sports by 25.0% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors.

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.