Genius Sports (NYSE:GENI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Genius Sports (NYSE:GENI) had its target price raised by equities researchers at Stifel Nicolaus from $5.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 9.61% from the stock’s previous close.

Several other equities research analysts also recently weighed in on GENI. Roth Capital set a $10.00 price target on Genius Sports in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on shares of Genius Sports in a research report on Monday, May 11th. They issued a “buy” rating and a $10.00 price objective for the company. Citigroup lowered their target price on shares of Genius Sports from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Needham & Company LLC dropped their target price on shares of Genius Sports from $14.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, BTIG Research cut their price target on shares of Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Genius Sports presently has a consensus rating of “Moderate Buy” and an average price target of $11.56.

Genius Sports Trading Down 4.0%

Shares of GENI traded down $0.26 during midday trading on Wednesday, hitting $6.39. 2,895,414 shares of the company’s stock traded hands, compared to its average volume of 6,209,934. Genius Sports has a 1 year low of $3.83 and a 1 year high of $13.73. The firm’s fifty day moving average is $6.00 and its 200-day moving average is $6.24. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -10.48 and a beta of 1.91.

Genius Sports (NYSE:GENI) last announced its earnings results on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.12). Genius Sports had a negative return on equity of 20.34% and a negative net margin of 22.26%.The business had revenue of $187.95 million for the quarter, compared to analysts’ expectations of $170.60 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. On average, equities research analysts anticipate that Genius Sports will post -0.12 EPS for the current year.

Institutional Trading of Genius Sports

Large investors have recently made changes to their positions in the business. Senvest Management LLC increased its stake in shares of Genius Sports by 45.1% in the first quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock worth $60,486,000 after acquiring an additional 4,243,157 shares during the period. Wellington Management Group LLP raised its stake in shares of Genius Sports by 17.9% during the 3rd quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after buying an additional 2,051,503 shares during the last quarter. Voss Capital LP lifted its holdings in shares of Genius Sports by 35.4% in the 4th quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after buying an additional 2,900,000 shares during the period. Stephens Investment Management Group LLC boosted its stake in shares of Genius Sports by 35.1% in the first quarter. Stephens Investment Management Group LLC now owns 7,598,359 shares of the company’s stock worth $33,661,000 after buying an additional 1,974,043 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Genius Sports by 1.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 5,951,203 shares of the company’s stock worth $65,582,000 after buying an additional 101,120 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

About Genius Sports

Genius Sports is a global sports technology company that specializes in collecting, analyzing and distributing real-time sports data and video streams. The firm provides official data feeds, live video streaming solutions and digital engagement tools to sports leagues, federations, broadcasters and betting operators. By integrating data directly from sporting events through its network of field officials and proprietary technology, Genius Sports ensures accuracy and integrity for partners who rely on up-to-the-second information.

The company’s product suite includes a cloud-based platform for data capture and distribution, an integrity services offering designed to identify and mitigate match-fixing risks, and a suite of commercial products that power odds creation, in-game betting markets and fan engagement experiences.