Genius Sports (NYSE:GENI) Shares Up 5.4% – Should You Buy?

Genius Sports Limited (NYSE:GENI)’s share price traded up 5.4% during trading on Tuesday . The company traded as high as $9.85 and last traded at $9.84. 1,618,141 shares were traded during trading, a decline of 32% from the average session volume of 2,394,955 shares. The stock had previously closed at $9.34.

Analysts Set New Price Targets

GENI has been the subject of a number of recent analyst reports. B. Riley upped their target price on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. 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, November 13th. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Benchmark upped their price target on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.39.

Genius Sports Price Performance

The business’s 50-day simple moving average is $7.84 and its two-hundred day simple moving average is $6.76. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -29.19 and a beta of 1.98.

Genius Sports (NYSE:GENI) last issued 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. The business had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) EPS. Equities research analysts forecast that Genius Sports Limited will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

A number of hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in Genius Sports during the third quarter worth $78,000. Arkadios Wealth Advisors bought a new position in shares of Genius Sports in the 3rd quarter worth about $79,000. Captrust Financial Advisors acquired a new position in shares of Genius Sports in the 3rd quarter valued at about $84,000. Koss Olinger Consulting LLC acquired a new stake in Genius Sports during the second quarter worth approximately $64,000. Finally, Walleye Trading LLC increased its holdings in Genius Sports by 169.9% in the third quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after purchasing an additional 29,555 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors.

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.