Genius Sports (NYSE:GENI) PT Raised to $9.00

Genius Sports (NYSE:GENI) had its price objective increased by equities research analysts at JMP Securities from $8.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 65.14% from the company’s current price.

A number of other brokerages have also issued reports on GENI. Needham & Company LLC reissued a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research note on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 target price on shares of Genius Sports in a research report on Monday, February 26th. The Goldman Sachs Group assumed coverage on Genius Sports in a research report on Tuesday, April 16th. They set a “buy” rating and a $7.50 target price for the company. 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. Finally, B. Riley began coverage on Genius Sports in a research report on Friday, April 5th. They issued a “buy” rating and a $9.00 price target for the company. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $9.33.

Genius Sports Price Performance

Shares of NYSE:GENI traded up $0.07 during trading on Thursday, hitting $5.45. 1,597,949 shares of the company’s stock were exchanged, compared to its average volume of 2,218,554. Genius Sports has a 52-week low of $4.52 and a 52-week high of $8.45. The business’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.88. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -13.70 and a beta of 1.98.

Genius Sports (NYSE:GENI) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The firm had revenue of $119.72 million for the quarter, compared to analysts’ expectations of $116.53 million. Genius Sports had a negative net margin of 20.71% and a negative return on equity of 12.67%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.12) EPS. On average, sell-side analysts anticipate that Genius Sports will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GENI. Oppenheimer & Co. Inc. boosted its holdings in Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock valued at $467,000 after purchasing an additional 30,089 shares during the period. SG Americas Securities LLC purchased a new stake in Genius Sports during the 1st quarter worth about $119,000. Nikko Asset Management Americas Inc. lifted its holdings in Genius Sports by 25.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Genius Sports by 25.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Genius Sports by 383.6% during the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after buying an additional 5,772,540 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.