Genius Sports (NYSE:GENI) Price Target Raised to $12.00

Genius Sports (NYSE:GENI) had its price objective hoisted by research analysts at Macquarie from $10.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price suggests a potential upside of 20.24% from the company’s current price.

GENI has been the topic of a number of other research reports. The Goldman Sachs Group upped their target price 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 increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. B. Riley increased their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research note on Friday, October 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research note on Tuesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports currently has a consensus rating of “Buy” and an average price target of $10.25.

Genius Sports Stock Up 5.4 %

Shares of NYSE GENI traded up $0.51 during trading on Wednesday, hitting $9.98. 3,192,057 shares of the company traded hands, compared to its average volume of 2,355,819. Genius Sports has a 1 year low of $4.90 and a 1 year high of $10.15. The company has a 50-day moving average price of $7.53 and a 200-day moving average price of $6.52. The firm has a market capitalization of $2.29 billion, a P/E ratio of -23.39 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The company had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. During the same period in the previous year, the company earned ($0.06) EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts predict that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC lifted its position in Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after buying an additional 819,385 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Genius Sports by 10.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after purchasing an additional 691,539 shares during the last quarter. FMR LLC increased its stake in shares of Genius Sports by 53.2% during the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Genius Sports during the 2nd quarter worth $11,233,000. Finally, Hood River Capital Management LLC increased its stake in shares of Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after purchasing an additional 114,490 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.