Genius Sports (NYSE:GENI) Price Target Raised to $12.00

by · The Markets Daily

Genius Sports (NYSE:GENI – Free Report) had its price target lifted by Macquarie from $10.00 to $12.00 in a research note published on Wednesday,Benzinga reports. Macquarie currently has an outperform rating on the stock.

GENI has been the subject of a number of other research reports. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research note on Friday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Tuesday. The Goldman Sachs Group raised their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. B. Riley upped their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer upped their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $10.39.

View Our Latest Research Report on Genius Sports

Genius Sports Price Performance

Shares of Genius Sports stock opened at $9.11 on Wednesday. The company has a 50 day simple moving average of $7.66 and a two-hundred day simple moving average of $6.58. The firm has a market cap of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98. Genius Sports has a 1 year low of $4.91 and a 1 year high of $10.15.

Genius Sports (NYSE:GENI – Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. As a group, research analysts anticipate that Genius Sports will post -0.2 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors and hedge funds have recently added to or reduced their stakes in GENI. Wellington Management Group LLP grew its position in shares of Genius Sports by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after buying an additional 230,209 shares during the period. Senvest Management LLC grew its holdings in Genius Sports by 12.2% in the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Genius Sports by 10.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after purchasing an additional 691,539 shares in the last quarter. FMR LLC increased its stake in shares of Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Finally, Portolan Capital Management LLC lifted its holdings in shares of Genius Sports by 9.4% during the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock valued at $24,860,000 after purchasing an additional 272,545 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

(Get Free Report)

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.

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