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

Genius Sports (NYSE:GENI) had its target price raised by Oppenheimer from $10.00 to $12.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on GENI. The Goldman Sachs Group boosted their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Friday, October 11th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. Macquarie decreased 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. Finally, B. Riley raised their price objective on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $10.39.

Genius Sports Price Performance

NYSE:GENI opened at $9.11 on Wednesday. The firm has a 50 day simple moving average of $7.66 and a 200-day simple moving average of $6.60. 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.

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

Institutional Investors Weigh In On Genius Sports

A number of hedge funds have recently bought and sold shares of the business. AYAL Capital Advisors Ltd purchased a new position in shares of Genius Sports during the 2nd quarter valued at approximately $4,635,000. Rice Hall James & Associates LLC bought a new position in Genius Sports during the 2nd quarter valued at $5,521,000. Hood River Capital Management LLC grew its holdings in Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock worth $11,046,000 after acquiring an additional 114,490 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Genius Sports in the 2nd quarter worth about $1,804,000. Finally, Bank of Montreal Can acquired a new stake in shares of Genius Sports in the 2nd quarter valued at about $6,575,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.