Genius Sports (NYSE:GENI) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Genius Sports (NYSE:GENI) in a report published on Tuesday morning,Benzinga reports. They currently have a $9.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and set a $10.00 price target on shares of Genius Sports in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. B. Riley lifted their price objective on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Macquarie lowered their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports has an average rating of “Buy” and a consensus target price of $10.39.

Genius Sports Price Performance

Genius Sports stock opened at $9.11 on Tuesday. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.15. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -28.47 and a beta of 1.98. The business has a fifty day moving average price of $7.66 and a 200-day moving average price of $6.58.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts anticipate that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of Genius Sports during the first quarter valued at $119,000. Oppenheimer & Co. Inc. boosted its position in shares of 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 acquiring an additional 30,089 shares during the period. MQS Management LLC bought a new position in Genius Sports during the first quarter valued at about $167,000. Silvercrest Asset Management Group LLC lifted its holdings in shares of Genius Sports by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company’s stock worth $6,621,000 after acquiring an additional 50,482 shares during the period. Finally, Levin Capital Strategies L.P. grew its position in Genius Sports by 40.0% in the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after acquiring an additional 10,000 shares during the period. 81.91% of the stock is owned by institutional investors and hedge funds.

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.