Genius Sports (NYSE:GENI) Earns “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Genius Sports (NYSE:GENI) in a research note published on Thursday, Benzinga reports. Benchmark currently has a $10.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Macquarie lowered their price target on Genius Sports from $10.00 to $9.00 and set an outperform rating for the company in a report on Thursday, July 18th. Citigroup began coverage on Genius Sports in a report on Thursday, June 13th. They issued a buy rating and a $9.00 price target for the company. Needham & Company LLC restated a buy rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, August 6th. B. Riley lifted their price target on Genius Sports from $9.00 to $10.00 and gave the company a buy rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price target on Genius Sports from $7.50 to $8.50 and gave the company a buy rating in a report on Thursday, August 8th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Genius Sports currently has a consensus rating of Buy and an average target price of $9.45.

Genius Sports Trading Down 1.6 %

Genius Sports stock opened at $8.14 on Thursday. The stock has a market cap of $1.87 billion, a PE ratio of -20.87 and a beta of 1.96. The stock has a 50-day moving average price of $7.31 and a 200 day moving average price of $6.10. Genius Sports has a 52 week low of $4.62 and a 52 week high of $8.64.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The company had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) EPS. On average, equities analysts predict that Genius Sports will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Genius Sports by 42.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,953 shares of the company’s stock worth $98,000 after acquiring an additional 5,342 shares in the last quarter. Levin Capital Strategies L.P. lifted its position in Genius Sports by 40.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after acquiring an additional 10,000 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in Genius Sports during the 2nd quarter worth approximately $64,000. Vanguard Personalized Indexing Management LLC acquired a new position in Genius Sports during the 2nd quarter worth approximately $67,000. Finally, Virtu Financial LLC acquired a new position in Genius Sports during the 1st quarter worth approximately $94,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.