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

Genius Sports (NYSE:GENI) had its price target upped by Citigroup from $10.00 to $12.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. B. Riley raised their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their target price on Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. Macquarie raised their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Oppenheimer raised their price objective on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.72.

Genius Sports Stock Up 0.1 %

Shares of GENI stock opened at $9.78 on Wednesday. The stock has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $6.79. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.15. The stock has a market capitalization of $2.24 billion, a P/E ratio of -30.63 and a beta of 1.98.

Genius Sports (NYSE:GENI) last announced its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. The business had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. Genius Sports’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Genius Sports will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On Genius Sports

Institutional investors and hedge funds have recently bought and sold shares of the business. AYAL Capital Advisors Ltd bought a new stake in shares of Genius Sports during the second quarter worth $4,635,000. GSA Capital Partners LLP bought a new stake in shares of Genius Sports during the third quarter worth $532,000. Rice Hall James & Associates LLC bought a new stake in shares of Genius Sports during the second quarter worth $5,521,000. Senvest Management LLC raised its position in shares of Genius Sports by 12.2% during the third quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after acquiring an additional 819,385 shares during the last quarter. Finally, Millrace Asset Group Inc. bought a new stake in shares of Genius Sports during the third quarter worth $1,897,000. Institutional investors and hedge funds 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.