Genius Sports (NYSE:GENI) Issues Quarterly Earnings Results

Genius Sports (NYSE:GENI) released its quarterly earnings results on Wednesday. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02), Briefing.com reports. The business had revenue of $119.72 million for the quarter, compared to the consensus estimate of $116.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. Genius Sports’s revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) EPS.

Genius Sports Stock Performance

Genius Sports stock traded up $0.07 during mid-day trading on Thursday, hitting $5.45. 1,597,949 shares of the company traded hands, compared to its average volume of 2,218,554. The stock has a fifty day moving average price of $5.71 and a 200-day moving average price of $5.88. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -13.70 and a beta of 1.98. Genius Sports has a one year low of $4.52 and a one year high of $8.45.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GENI shares. Benchmark reissued a “buy” rating and set a $10.00 target price on shares of Genius Sports in a research report on Thursday, March 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $8.00 price target on shares of Genius Sports in a report on Monday, February 26th. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 target price on shares of Genius Sports in a research report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a report on Thursday. Finally, The Goldman Sachs Group began coverage on Genius Sports in a research note on Tuesday, April 16th. They issued a “buy” rating and a $7.50 price objective for the company. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $9.33.

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.