Genius Sports (NYSE:GENI) Stock Price Expected to Rise, Oppenheimer Analyst Says

Genius Sports (NYSE:GENI) had its target price increased by Oppenheimer from $10.00 to $12.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

GENI has been the topic of several other research reports. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. B. Riley raised their price target on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price objective on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. Finally, Macquarie reduced their price target on shares of 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 analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Performance

NYSE:GENI opened at $9.11 on Wednesday. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.15. The stock has a market cap of $2.09 billion, a P/E ratio of -28.47 and a beta of 1.98. The stock has a 50-day simple moving average of $7.66 and a 200-day simple moving average of $6.60.

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

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently added to or reduced their stakes in GENI. Wellington Management Group LLP boosted its stake in shares of Genius Sports by 2.9% in the third quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after buying an additional 230,209 shares in the last quarter. Senvest Management LLC boosted its position in shares of Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares in the last quarter. Massachusetts Financial Services Co. MA grew 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 period. FMR LLC increased its holdings in shares of Genius Sports by 53.2% in the 3rd quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Finally, Portolan Capital Management LLC lifted its stake in shares of Genius Sports by 9.4% in the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock valued at $24,860,000 after purchasing an additional 272,545 shares during the period. Institutional investors and hedge funds 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.