Genius Sports Limited (NYSE:GENI) Receives $9.45 Average Price Target from Brokerages

Genius Sports Limited (NYSE:GENI) has received a consensus rating of “Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.45.

Several research analysts have recently issued reports on the company. B. Riley increased their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Friday. Macquarie reduced their target price on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Genius Sports in a research note on Tuesday, August 6th.

Genius Sports Stock Up 3.0 %

NYSE:GENI opened at $7.57 on Friday. The firm’s fifty day simple moving average is $7.46 and its 200 day simple moving average is $6.21. The stock has a market cap of $1.74 billion, a P/E ratio of -17.60 and a beta of 1.96. Genius Sports has a twelve month low of $4.62 and a twelve month high of $8.64.

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

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Genius Sports by 25.0% during 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 purchasing an additional 1,702,602 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of 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 valued at $48,555,000 after buying an additional 1,702,602 shares during the last quarter. Wellington Management Group LLP increased 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 worth $44,975,000 after buying an additional 5,772,540 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 1,502,958 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new position in Genius Sports during the 4th quarter valued at about $21,961,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

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.