Genius Sports (NYSE:GENI) Earns Buy Rating from Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They presently have a $9.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 11.39% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. B. Riley boosted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Macquarie lowered 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. Finally, The Goldman Sachs Group boosted their price target on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $9.45.

Genius Sports Stock Performance

Shares of NYSE:GENI opened at $8.08 on Tuesday. The business’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $6.49. The company has a market cap of $1.85 billion, a P/E ratio of -18.79 and a beta of 1.98. Genius Sports has a one year low of $4.73 and a one year high of $8.64.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Genius Sports by 42.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock valued at $98,000 after buying an additional 5,342 shares during the period. Levin Capital Strategies L.P. lifted its holdings in Genius Sports by 40.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after acquiring an additional 10,000 shares during the last quarter. Sound Income Strategies LLC bought a new position in shares of Genius Sports during the third quarter valued at approximately $78,000. Arkadios Wealth Advisors bought a new position in shares of Genius Sports during the third quarter valued at approximately $79,000. Finally, Koss Olinger Consulting LLC acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $64,000. Institutional investors own 81.91% of the company’s stock.

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.