JMP Securities Reiterates “Market Perform” Rating for Genius Sports (NYSE:GENI)

Genius Sports (NYSE:GENI)‘s stock had its “market perform” rating reaffirmed by analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price target on the stock. JMP Securities’ target price points to a potential upside of 24.72% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. 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 research note on Wednesday, November 13th. Benchmark upped their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer lifted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their price objective on Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Genius Sports has a consensus rating of “Moderate Buy” and a consensus target price of $10.94.

Genius Sports Trading Down 2.6 %

Shares of GENI stock opened at $8.82 on Monday. The stock’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $7.61. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -27.56 and a beta of 2.15. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33.

Genius Sports (NYSE:GENI) last issued its earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The company had revenue of $120.20 million for the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. On average, sell-side analysts predict that Genius Sports will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several large investors have recently made changes to their positions in GENI. Koss Olinger Consulting LLC acquired a new stake in Genius Sports in the second quarter worth about $64,000. Rice Hall James & Associates LLC bought a new stake in shares of Genius Sports during the second quarter worth approximately $5,521,000. Massachusetts Financial Services Co. MA lifted its holdings in Genius Sports by 28.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after buying an additional 1,502,958 shares during the period. Renaissance Technologies LLC boosted its stake in Genius Sports by 9.4% in the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock valued at $2,126,000 after acquiring an additional 33,522 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Genius Sports during the 2nd quarter worth $67,000. 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.