Genius Sports (NYSE:GENI) Stock Rating Upgraded by The Goldman Sachs Group

Genius Sports (NYSE:GENI) was upgraded by equities researchers at The Goldman Sachs Group to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on GENI. Roth Capital set a $10.00 price target on shares of Genius Sports in a report on Friday, May 8th. Weiss Ratings downgraded shares of Genius Sports from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. Wall Street Zen lowered shares of Genius Sports from a “sell” rating to a “strong sell” rating in a research report on Sunday. Citigroup reduced 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. Finally, BTIG Research decreased their target price on Genius Sports from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Genius Sports presently has an average rating of “Moderate Buy” and an average price target of $11.19.

Genius Sports Stock Up 12.4%

Shares of GENI opened at $7.29 on Monday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -11.94 and a beta of 1.91. The company’s fifty day moving average is $6.18 and its 200-day moving average is $6.12. Genius Sports has a 12 month low of $3.83 and a 12 month high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.12). Genius Sports had a negative net margin of 22.26% and a negative return on equity of 20.34%. The company had revenue of $187.95 million during the quarter, compared to the consensus estimate of $170.60 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The firm’s revenue was up 30.5% on a year-over-year basis. As a group, research analysts predict that Genius Sports will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Genius Sports

Hedge funds have recently modified their holdings of the stock. Senvest Management LLC increased its stake in shares of Genius Sports by 45.1% in the 1st quarter. Senvest Management LLC now owns 13,653,724 shares of the company’s stock valued at $60,486,000 after buying an additional 4,243,157 shares during the period. Wellington Management Group LLP boosted its holdings in Genius Sports by 17.9% in the third quarter. Wellington Management Group LLP now owns 13,513,537 shares of the company’s stock valued at $167,298,000 after acquiring an additional 2,051,503 shares during the last quarter. Voss Capital LP boosted its holdings in Genius Sports by 35.4% in the fourth quarter. Voss Capital LP now owns 11,100,000 shares of the company’s stock valued at $122,322,000 after acquiring an additional 2,900,000 shares during the last quarter. Stephens Investment Management Group LLC increased its position in 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 purchasing an additional 1,974,043 shares during the period. Finally, Westfield Capital Management Co. LP increased its position in 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 purchasing an additional 101,120 shares during the period. 81.91% of the stock is owned by 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.