Genius Sports (NYSE:GENI) Stock Rating Reaffirmed by Benchmark

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reaffirmed by investment analysts at Benchmark in a note issued to investors on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. Benchmark’s price target would indicate a potential upside of 22.85% from the stock’s current price.

Several other brokerages have also weighed in on GENI. Citigroup initiated coverage on Genius Sports in a research report on Thursday, June 13th. They issued a “buy” rating and a $9.00 target price on the stock. The Goldman Sachs Group increased their price objective on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. B. Riley lifted their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Macquarie dropped their price target on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research note on Tuesday, August 6th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $9.45.

Genius Sports Stock Down 1.6 %

Shares of Genius Sports stock opened at $8.14 on Thursday. Genius Sports has a 12 month low of $4.62 and a 12 month high of $8.64. The stock has a market cap of $1.87 billion, a PE ratio of -20.87 and a beta of 1.96. The business has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $6.09.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The company had revenue of $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts expect that Genius Sports will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

A number of institutional investors have recently made changes to their positions in GENI. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after buying an additional 1,702,602 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in Genius Sports by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after acquiring an additional 1,702,602 shares during the period. Wellington Management Group LLP boosted its holdings in Genius Sports by 383.6% in the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after purchasing an additional 5,772,540 shares during the period. 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 worth $37,217,000 after purchasing an additional 1,502,958 shares during the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new position in shares of Genius Sports during the 4th quarter worth about $21,961,000. 81.91% of the stock is currently 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.