Genius Sports (NYSE:GENI) Given “Buy” Rating at Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $9.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 11.39% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Macquarie decreased their price target on Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. The Goldman Sachs Group increased their target price on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a report on Thursday, August 8th. B. Riley boosted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research note on Friday, October 11th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports currently has an average rating of “Buy” and an average price target of $9.45.

Genius Sports Price Performance

Shares of GENI stock opened at $8.08 on Tuesday. Genius Sports has a 1-year low of $4.73 and a 1-year high of $8.64. The business’s fifty day moving average price is $7.48 and its 200 day moving average price is $6.49. The firm has a market capitalization of $1.85 billion, a PE ratio of -18.79 and a beta of 1.98.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AYAL Capital Advisors Ltd purchased a new position in shares of Genius Sports in the 2nd quarter worth about $4,635,000. Rice Hall James & Associates LLC acquired a new stake in Genius Sports during the 2nd quarter worth approximately $5,521,000. Hood River Capital Management LLC increased 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 worth $11,046,000 after purchasing an additional 114,490 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Genius Sports in the second quarter valued at approximately $1,804,000. Finally, Bank of Montreal Can acquired a new position in Genius Sports during the second quarter valued at approximately $6,575,000. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.