Citigroup Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its price target boosted by equities researchers at Citigroup from $10.00 to $12.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 22.82% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday, November 12th. The Goldman Sachs Group upped their price target on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Macquarie upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. B. Riley upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Oppenheimer upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $10.72.

Genius Sports Price Performance

NYSE GENI remained flat at $9.77 during trading on Wednesday. 293,734 shares of the company’s stock were exchanged, compared to its average volume of 2,395,786. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -30.53 and a beta of 1.98. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.15. The company has a 50 day moving average of $7.84 and a 200 day moving average of $6.76.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data 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. The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, research analysts anticipate that Genius Sports will post -0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the stock. Koss Olinger Consulting LLC bought a new position in shares of Genius Sports during the second quarter valued at $64,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Genius Sports during the second quarter valued at $67,000. Sound Income Strategies LLC bought a new position in shares of Genius Sports during the third quarter valued at $78,000. Arkadios Wealth Advisors bought a new position in shares of Genius Sports during the third quarter valued at $79,000. Finally, Captrust Financial Advisors bought a new position in shares of Genius Sports during the third quarter valued at $84,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.