Genius Sports Limited (NYSE:GENI) Receives Consensus Recommendation of “Buy” from Analysts

Genius Sports Limited (NYSE:GENI) has earned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $9.45.

GENI has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday, August 6th. The Goldman Sachs Group upped their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Macquarie cut their target price on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. B. Riley boosted their price target on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup initiated coverage on shares of Genius Sports in a report on Thursday, June 13th. They issued a “buy” rating and a $9.00 price objective for the company.

Genius Sports Stock Up 3.9 %

Shares of GENI opened at $7.95 on Friday. The firm has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $5.96. Genius Sports has a twelve month low of $4.62 and a twelve month high of $8.15. The stock has a market capitalization of $1.82 billion, a P/E ratio of -20.37 and a beta of 1.95.

Genius Sports (NYSE:GENI) last posted its earnings results 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 business had revenue of $95.50 million during the quarter, compared to the consensus estimate of $94.15 million. Genius Sports had a negative return on equity of 12.98% and a negative net margin of 19.73%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. Sell-side analysts expect that Genius Sports will post -0.17 EPS for the current fiscal year.

Institutional Trading of Genius Sports

Hedge funds have recently made changes to their positions in the stock. AYAL Capital Advisors Ltd purchased a new position in Genius Sports during the second quarter valued at $4,635,000. Squarepoint Ops LLC purchased a new position in shares of Genius Sports in the 2nd quarter worth about $1,804,000. Bank of Montreal Can bought a new position in Genius Sports in the 2nd quarter worth about $6,575,000. Hood River Capital Management LLC grew its position in Genius Sports by 6.0% during the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after purchasing an additional 114,490 shares during the last quarter. Finally, ProShare Advisors LLC bought a new stake in Genius Sports during the 2nd quarter valued at about $102,000. 81.91% of the stock is 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.