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

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 43.88% from the stock’s current price.

GENI has been the topic of a number of other research reports. Citizens Jmp downgraded shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Citigroup lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Benchmark upped their price objective on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, B. Riley upped their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.69.

Genius Sports Price Performance

NYSE GENI opened at $8.34 on Tuesday. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -26.06 and a beta of 2.15. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.33. The business’s fifty day moving average price is $8.96 and its 200-day moving average price is $8.41.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, March 4th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.07). Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. Equities research analysts anticipate that Genius Sports will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in Genius Sports during the third quarter valued at $532,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Genius Sports during the 4th quarter valued at about $11,292,000. Senvest Management LLC lifted its holdings 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 last quarter. Millrace Asset Group Inc. purchased a new position in Genius Sports in the third quarter worth about $1,897,000. Finally, D.A. Davidson & CO. increased its stake in Genius Sports by 2.7% during the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after acquiring an additional 1,396 shares during the last quarter. Hedge funds and other institutional investors 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.