Macquarie Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

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

Several other research firms have also recently weighed in on GENI. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Tuesday. B. Riley upped their target price on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research note on Friday, October 11th. The Goldman Sachs Group upped their target price on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports currently has an average rating of “Buy” and a consensus price target of $10.25.

Genius Sports Trading Up 5.4 %

GENI traded up $0.51 during midday trading on Wednesday, reaching $9.98. The company’s stock had a trading volume of 3,192,057 shares, compared to its average volume of 2,355,819. The company has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $6.52. The stock has a market cap of $2.29 billion, a P/E ratio of -23.39 and a beta of 1.98. Genius Sports has a twelve month low of $4.90 and a twelve month high of $10.15.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. 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 prior year, the business earned ($0.06) earnings per share. Genius Sports’s revenue for the quarter was up 18.2% compared to the same quarter last year. Sell-side analysts expect that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Trading of Genius Sports

Hedge funds have recently modified their holdings of the stock. FMR LLC boosted its holdings in Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after acquiring an additional 2,507,165 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Genius Sports during the 2nd quarter worth approximately $11,233,000. Massachusetts Financial Services Co. MA grew its position in shares of Genius Sports by 28.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after buying an additional 1,502,958 shares during the period. Bank of Montreal Can bought a new stake in shares of Genius Sports during the second quarter worth approximately $6,575,000. Finally, Rice Hall James & Associates LLC bought a new position in Genius Sports in the second quarter valued at approximately $5,521,000. 81.91% of the stock is owned by institutional investors.

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.