Zacks Research Downgrades Genius Sports (NYSE:GENI) to Strong Sell

Genius Sports (NYSE:GENI) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

GENI has been the subject of several other reports. Guggenheim boosted their price target on Genius Sports from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a research report on Friday. 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 report on Friday, May 8th. BTIG Research raised their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Oppenheimer lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Genius Sports Price Performance

NYSE GENI opened at $7.74 on Monday. The company has a market cap of $1.91 billion, a PE ratio of -11.38 and a beta of 1.90. The firm’s 50 day moving average price is $6.63 and its 200-day moving average price is $5.92. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.97 and a current ratio of 0.97. Genius Sports has a 52-week low of $3.83 and a 52-week high of $13.73.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.21). The business had revenue of $195.50 million during the quarter, compared to the consensus estimate of $184.43 million. Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The business’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. Sell-side analysts forecast that Genius Sports will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Large investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Genius Sports by 17.6% in the 1st quarter. Royal Bank of Canada now owns 44,339 shares of the company’s stock worth $444,000 after purchasing an additional 6,623 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Genius Sports by 10.0% in the second quarter. Cetera Investment Advisers now owns 15,288 shares of the company’s stock worth $159,000 after buying an additional 1,388 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Genius Sports during the second quarter worth $266,000. Invesco Ltd. grew its holdings in shares of Genius Sports by 3,584.2% during the second quarter. Invesco Ltd. now owns 3,291,635 shares of the company’s stock valued at $34,233,000 after buying an additional 3,202,290 shares during the last quarter. Finally, Frontier Capital Management Co. LLC acquired a new position in shares of Genius Sports in the 2nd quarter valued at $14,220,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.