Genius Sports (NYSE:GENI) Price Target Raised to $11.50

Genius Sports (NYSE:GENI) had its target price increased by The Goldman Sachs Group from $8.50 to $11.50 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on GENI. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Oppenheimer lifted their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. B. Riley upped their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie lifted their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $10.39.

Genius Sports Price Performance

Shares of NYSE GENI opened at $9.11 on Thursday. The business has a 50-day moving average of $7.66 and a 200-day moving average of $6.61. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -28.47 and a beta of 1.98. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15.

Genius Sports (NYSE:GENI) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million for 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 business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) EPS. On average, sell-side analysts expect that Genius Sports will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. AYAL Capital Advisors Ltd bought a new position in Genius Sports during the 2nd quarter worth $4,635,000. Rice Hall James & Associates LLC bought a new position in Genius Sports during the 2nd quarter worth $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 buying an additional 114,490 shares during the period. Squarepoint Ops LLC bought a new position in Genius Sports during the 2nd quarter worth $1,804,000. Finally, Bank of Montreal Can bought a new position in Genius Sports during the 2nd quarter worth $6,575,000. Institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.