Citigroup Lowers Genius Sports (NYSE:GENI) Price Target to $9.00

Genius Sports (NYSE:GENI) had its price target dropped by investment analysts at Citigroup from $11.00 to $9.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 98.02% from the stock’s previous close.

Several other research firms have also commented on GENI. The Goldman Sachs Group boosted their price objective on Genius Sports from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Wells Fargo & Company decreased their target price on Genius Sports from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. B. Riley Financial reaffirmed a “buy” rating on shares of Genius Sports in a research note on Friday, February 6th. Needham & Company LLC dropped their price target on Genius Sports from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, New Street Research set a $17.00 price objective on Genius Sports in a research note on Thursday, December 4th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.74.

Genius Sports Trading Up 0.1%

GENI traded up $0.01 during midday trading on Thursday, hitting $4.55. 3,104,412 shares of the company traded hands, compared to its average volume of 6,600,255. The business has a 50 day simple moving average of $6.21 and a two-hundred day simple moving average of $9.35. Genius Sports has a 52-week low of $4.19 and a 52-week high of $13.73. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -10.57 and a beta of 2.08.

Genius Sports (NYSE:GENI) last released its earnings results on Thursday, March 5th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). Genius Sports had a negative return on equity of 13.66% and a negative net margin of 16.67%.The company had revenue of $240.50 million for the quarter, compared to analysts’ expectations of $234.94 million. During the same period in the prior year, the firm earned ($0.12) EPS. The firm’s revenue for the quarter was up 37.0% on a year-over-year basis. Equities research analysts anticipate that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. UMB Bank n.a. acquired a new position in shares of Genius Sports in the 4th quarter valued at $63,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Genius Sports during the 3rd quarter worth about $65,000. Strs Ohio increased its position in shares of Genius Sports by 178.9% during the 3rd quarter. Strs Ohio now owns 5,300 shares of the company’s stock worth $66,000 after purchasing an additional 3,400 shares during the last quarter. Bessemer Group Inc. raised its holdings in Genius Sports by 1,163.1% in the 3rd quarter. Bessemer Group Inc. now owns 7,010 shares of the company’s stock valued at $87,000 after buying an additional 6,455 shares during the period. Finally, CWM LLC lifted its position in Genius Sports by 106.3% in the third quarter. CWM LLC now owns 8,209 shares of the company’s stock valued at $102,000 after buying an additional 4,229 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.