Genius Sports (NYSE:GENI) Price Target Raised to $12.00

Genius Sports (NYSE:GENI) had its price target raised by B. Riley from $10.00 to $12.00 in a report released on Wednesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Oppenheimer raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Benchmark lifted their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Macquarie increased their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $10.39.

Genius Sports Stock Performance

Shares of Genius Sports stock opened at $9.11 on Wednesday. The firm has a market cap of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.15. The firm’s 50-day simple moving average is $7.66 and its 200-day simple moving average is $6.58.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The company had revenue of $120.20 million during 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%. The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. On average, equities analysts predict that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

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