Genius Sports (NYSE:GENI) PT Raised to $8.50

Genius Sports (NYSE:GENI) had its price target lifted by The Goldman Sachs Group from $7.50 to $8.50 in a research note published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday, August 6th. Macquarie reduced their target price on Genius Sports from $10.00 to $9.00 and set an outperform rating for the company in a research note on Thursday, July 18th. Citigroup started coverage on Genius Sports in a research note on Thursday, June 13th. They set a buy rating and a $9.00 price objective on the stock. B. Riley raised their price objective on Genius Sports from $9.00 to $10.00 and gave the stock a buy rating in a research note on Wednesday, August 7th. Finally, JMP Securities raised their price objective on Genius Sports from $8.00 to $9.00 and gave the stock a market outperform rating in a research note on Thursday, May 9th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $9.45.

Genius Sports Trading Down 3.4 %

NYSE:GENI traded down $0.23 during trading hours on Thursday, hitting $6.60. The stock had a trading volume of 339,387 shares, compared to its average volume of 2,254,480. Genius Sports has a 1-year low of $4.62 and a 1-year high of $7.77. The business has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $5.93. The company has a market cap of $1.51 billion, a PE ratio of -17.51 and a beta of 1.95.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06). The firm had revenue of $95.50 million during the quarter, compared to analyst estimates of $94.15 million. Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. Research analysts expect that Genius Sports will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GENI. Wellington Management Group LLP grew its holdings in Genius Sports by 383.6% during the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after acquiring an additional 5,772,540 shares during the period. Ophir Asset Management Pty Ltd acquired a new position in Genius Sports during the fourth quarter worth about $21,961,000. Nikko Asset Management Americas Inc. grew its holdings in Genius Sports by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after acquiring an additional 1,702,602 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after purchasing an additional 1,702,602 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. 81.91% of the stock is 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.