Genius Sports’ (GENI) “Buy” Rating Reaffirmed at Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 36.75% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Benchmark boosted their price objective on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Genius Sports in a research report on Thursday. B. Riley raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Citigroup raised their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.28.

Genius Sports Trading Up 0.6 %

GENI opened at $8.78 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -27.42 and a beta of 2.15. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.33. The business’s fifty day simple moving average is $9.09 and its 200-day simple moving average is $7.75.

Genius Sports (NYSE:GENI) last issued its 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 company had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS. On average, equities research analysts predict that Genius Sports will post -0.16 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AYAL Capital Advisors Ltd purchased a new stake in Genius Sports during the 2nd quarter worth approximately $4,635,000. GSA Capital Partners LLP purchased a new stake in shares of Genius Sports during the third quarter valued at $532,000. Senvest Management LLC increased its position in shares of Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after acquiring an additional 819,385 shares during the period. Millrace Asset Group Inc. purchased a new position in Genius Sports in the 3rd quarter worth $1,897,000. Finally, Harbor Capital Advisors Inc. raised its stake in Genius Sports by 56.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 491,314 shares of the company’s stock worth $4,250,000 after acquiring an additional 176,845 shares during the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.