Oppenheimer Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its price target raised by Oppenheimer from $10.00 to $12.00 in a research note published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other brokerages have also weighed in on GENI. Macquarie dropped their price target on Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research note on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a research report on Tuesday. B. Riley lifted their price target on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their target price on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Genius Sports has an average rating of “Buy” and a consensus target price of $10.25.

Genius Sports Price Performance

Shares of NYSE GENI opened at $9.55 on Wednesday. Genius Sports has a 1-year low of $4.91 and a 1-year high of $10.15. The business has a fifty day moving average price of $7.58 and a 200 day moving average price of $6.54. The stock has a market capitalization of $2.19 billion, a P/E ratio of -29.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.09%. Genius Sports’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) EPS. As a group, equities research analysts anticipate that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GENI. Senvest Management LLC grew its position in shares of Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after acquiring an additional 819,385 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Genius Sports by 10.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock valued at $58,959,000 after purchasing an additional 691,539 shares during the period. FMR LLC increased its position in shares of Genius Sports by 53.2% in the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock valued at $56,604,000 after buying an additional 2,507,165 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Genius Sports during the 2nd quarter worth approximately $11,233,000. Finally, Hood River Capital Management LLC lifted its position in shares of Genius Sports by 6.0% during 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. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Genius Sports Company Profile

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.