Genius Sports (NYSE:GENI) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Genius Sports (NYSE:GENI) posted its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06, Briefing.com reports. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. Genius Sports updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Genius Sports Price Performance

Shares of NYSE GENI traded up $0.59 during midday trading on Wednesday, reaching $10.06. 2,994,018 shares of the stock were exchanged, compared to its average volume of 2,354,919. The business has a 50-day simple moving average of $7.53 and a two-hundred day simple moving average of $6.52. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -22.67 and a beta of 1.98. Genius Sports has a 12 month low of $4.90 and a 12 month high of $10.08.

Wall Street Analyst Weigh In

GENI has been the subject of several recent analyst reports. Macquarie dropped their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. The Goldman Sachs Group increased their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Oppenheimer raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research note on Tuesday. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research note on Friday, October 11th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports has an average rating of “Buy” and a consensus price target of $9.65.

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.