Benchmark Boosts Genius Sports (NYSE:GENI) Price Target to $16.00

Genius Sports (NYSE:GENI) had its price target increased by stock analysts at Benchmark from $15.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price target indicates a potential upside of 25.20% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Truist Financial initiated coverage on shares of Genius Sports in a report on Tuesday, July 1st. They set a “buy” rating and a $14.00 price target for the company. Wall Street Zen lowered shares of Genius Sports from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Northland Securities initiated coverage on shares of Genius Sports in a report on Friday, July 25th. They set an “outperform” rating and a $14.00 price target for the company. Arete initiated coverage on shares of Genius Sports in a report on Wednesday, July 9th. They set a “buy” rating and a $15.00 price target for the company. Finally, JMP Securities raised their price target on shares of Genius Sports from $13.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $14.19.

Genius Sports Stock Up 0.1%

Genius Sports stock opened at $12.78 on Wednesday. Genius Sports has a 52-week low of $6.72 and a 52-week high of $13.73. The firm has a fifty day moving average of $11.75 and a 200-day moving average of $10.52. The firm has a market capitalization of $2.75 billion, a P/E ratio of -41.23 and a beta of 1.87.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The business had revenue of $118.72 million during the quarter, compared to analyst estimates of $118.28 million. Genius Sports had a negative return on equity of 11.48% and a negative net margin of 13.94%.Genius Sports’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. On average, research analysts expect that Genius Sports will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GENI. Northern Trust Corp lifted its position in shares of Genius Sports by 103.3% in the 4th quarter. Northern Trust Corp now owns 63,510 shares of the company’s stock worth $549,000 after buying an additional 32,271 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Genius Sports in the 4th quarter worth about $2,353,000. Bank of America Corp DE lifted its position in shares of Genius Sports by 41.7% in the 4th quarter. Bank of America Corp DE now owns 312,289 shares of the company’s stock worth $2,701,000 after buying an additional 91,888 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Genius Sports by 1,953.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,066,005 shares of the company’s stock worth $9,221,000 after buying an additional 1,014,083 shares during the last quarter. Finally, Graham Capital Management L.P. lifted its position in shares of Genius Sports by 52.0% in the 4th quarter. Graham Capital Management L.P. now owns 52,575 shares of the company’s stock worth $455,000 after buying an additional 17,986 shares during the last quarter. 81.91% of the stock is currently owned by institutional investors.

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.