Wells Fargo & Company Cuts Genius Sports (NYSE:GENI) Price Target to $8.00

Genius Sports (NYSE:GENI) had its price objective trimmed by Wells Fargo & Company from $9.00 to $8.00 in a report published on Monday, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

GENI has been the topic of a number of other reports. Wall Street Zen raised shares of Genius Sports from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 18th. Needham & Company LLC dropped their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Genius Sports in a research note on Monday, May 11th. They set a “buy” rating and a $10.00 target price on the stock. Citigroup reduced their price target on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Stifel Nicolaus decreased their price target on shares of Genius Sports from $7.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Genius Sports currently has a consensus rating of “Moderate Buy” and an average target price of $11.56.

Genius Sports Stock Performance

Shares of GENI stock opened at $6.36 on Monday. The firm has a market cap of $1.57 billion, a P/E ratio of -10.42 and a beta of 1.91. Genius Sports has a fifty-two week low of $3.83 and a fifty-two week high of $13.73. The business’s 50 day moving average price is $6.05 and its 200-day moving average price is $6.20.

Genius Sports (NYSE:GENI) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The business had revenue of $187.95 million for the quarter, compared to the consensus estimate of $170.60 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Genius Sports’s revenue was up 30.5% compared to the same quarter last year. As a group, equities analysts predict that Genius Sports will post -0.12 EPS for the current year.

Institutional Trading of Genius Sports

A number of hedge funds have recently made changes to their positions in GENI. Parallel Advisors LLC bought a new position in Genius Sports during the 1st quarter valued at approximately $25,000. UMB Bank n.a. bought a new stake in Genius Sports in the fourth quarter worth $63,000. Victory Financial Group LLC bought a new stake in Genius Sports in the fourth quarter worth $113,000. Lexington Hill Partners LLC purchased a new stake in shares of Genius Sports in the second quarter worth $64,000. Finally, Osaic Holdings Inc. grew its stake in shares of Genius Sports by 72.6% in the second quarter. Osaic Holdings Inc. now owns 10,645 shares of the company’s stock worth $111,000 after acquiring an additional 4,477 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Company Profile

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.