Genius Sports (NYSE:GENI) Rating Reiterated by Benchmark

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a report released on Friday, Benzinga reports. They presently have a $10.00 target price on the stock. Benchmark’s price objective would suggest a potential upside of 32.10% from the company’s previous close.

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

Genius Sports Stock Up 3.0 %

Shares of GENI opened at $7.57 on Friday. The stock’s fifty day simple moving average is $7.46 and its 200-day simple moving average is $6.21. The firm has a market capitalization of $1.74 billion, a PE ratio of -17.60 and a beta of 1.96. Genius Sports has a 12-month low of $4.62 and a 12-month high of $8.64.

Genius Sports (NYSE:GENI) last released 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). 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 during the quarter, compared to the consensus estimate of $94.15 million. During the same quarter in the prior year, the company posted ($0.05) EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Analysts anticipate that Genius Sports will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GENI. Sound Income Strategies LLC acquired a new position in shares of Genius Sports in the 3rd quarter valued at about $78,000. AYAL Capital Advisors Ltd acquired a new position in shares of Genius Sports in the 2nd quarter valued at about $4,635,000. Squarepoint Ops LLC acquired a new position in shares of Genius Sports in the 2nd quarter valued at about $1,804,000. Bank of Montreal Can bought a new stake in Genius Sports in the 2nd quarter valued at about $6,575,000. Finally, Hood River Capital Management LLC increased its position in Genius Sports by 6.0% in the 2nd quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after buying an additional 114,490 shares in the last quarter. 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.