Genius Sports (NYSE:GENI) Earns “Buy” Rating from Needham & Company LLC

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $12.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 36.75% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. B. Riley raised their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. 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 report on Wednesday, November 13th. Macquarie increased their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Citigroup upped 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 27th. Finally, Citizens Jmp cut Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.28.

Genius Sports Trading Up 0.6 %

Shares of GENI opened at $8.78 on Friday. The company has a market capitalization of $2.01 billion, a PE 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 50 day moving average is $9.09 and its 200 day 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 firm had revenue of $120.20 million for the quarter, compared to analysts’ expectations 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 revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) earnings per share. Equities research analysts predict that Genius Sports will post -0.16 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock valued at $37,217,000 after acquiring an additional 1,502,958 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Genius Sports by 9.4% in the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock worth $2,126,000 after purchasing an additional 33,522 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of Genius Sports in the second quarter worth about $67,000. XTX Topco Ltd purchased a new position in Genius Sports in the 2nd quarter worth about $120,000. Finally, Divisadero Street Capital Management LP bought a new stake in Genius Sports during the 2nd quarter valued at about $11,233,000. 81.91% of the stock is currently owned by hedge funds and other 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.