Genius Sports (NYSE:GENI) Given New $11.00 Price Target at Benchmark

Genius Sports (NYSE:GENI) had its price objective boosted by equities researchers at Benchmark from $10.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 10.22% from the stock’s current price.

GENI has been the subject of several other reports. B. Riley increased their price objective on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Macquarie lifted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Oppenheimer increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a report on Tuesday. Finally, The Goldman Sachs Group increased their price objective on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Genius Sports presently has an average rating of “Buy” and a consensus price target of $10.25.

Genius Sports Trading Up 5.4 %

NYSE GENI traded up $0.51 during mid-day trading on Wednesday, hitting $9.98. The company’s stock had a trading volume of 3,192,057 shares, compared to its average volume of 2,355,819. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -23.39 and a beta of 1.98. The company’s 50 day simple moving average is $7.53 and its 200 day simple moving average is $6.52. Genius Sports has a twelve month low of $4.90 and a twelve month high of $10.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The firm had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. During the same period last year, the company earned ($0.06) earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. As a group, research analysts forecast that Genius Sports will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Genius Sports during the 1st quarter worth $119,000. Oppenheimer & Co. Inc. boosted its position in Genius Sports by 58.2% during the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock worth $467,000 after purchasing an additional 30,089 shares during the period. MQS Management LLC purchased a new position in shares of Genius Sports in the first quarter worth about $167,000. Silvercrest Asset Management Group LLC raised its position in shares of Genius Sports by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company’s stock valued at $6,621,000 after purchasing an additional 50,482 shares during the period. Finally, Levin Capital Strategies L.P. lifted its stake in shares of Genius Sports by 40.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after buying an additional 10,000 shares in the last quarter. 81.91% of the stock is owned by 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.