Genius Sports (NYSE:GENI) Price Target Raised to $11.00 at Benchmark

Genius Sports (NYSE:GENI) had its target price upped by Benchmark from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday. B. Riley increased their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Macquarie lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Oppenheimer increased their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.39.

Genius Sports Price Performance

Shares of NYSE:GENI opened at $9.11 on Wednesday. The firm’s 50-day moving average is $7.66 and its two-hundred day moving average is $6.58. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.15. The firm has a market capitalization of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same period last year, the business posted ($0.06) earnings per share. Genius Sports’s revenue was up 18.2% compared to the same quarter last year. Analysts expect that Genius Sports will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp increased its holdings in shares of Genius Sports by 54.8% in the 3rd quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after acquiring an additional 48,306 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Genius Sports in the third quarter valued at $299,000. Main Management ETF Advisors LLC acquired a new stake in shares of Genius Sports during the third quarter worth about $1,010,000. XTX Topco Ltd grew its holdings in shares of Genius Sports by 221.0% during the third quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock worth $553,000 after buying an additional 48,563 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Genius Sports by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after acquiring an additional 230,209 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.