Genius Sports (NYSE:GENI) Given New $12.00 Price Target at B. Riley

Genius Sports (NYSE:GENI) had its target price hoisted by stock analysts at B. Riley from $10.00 to $12.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective would suggest a potential upside of 20.24% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Oppenheimer raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Macquarie boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research note on Tuesday. Finally, Benchmark increased their price target on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $10.25.

Genius Sports Trading Up 5.4 %

Genius Sports stock traded up $0.51 during trading on Wednesday, hitting $9.98. The company had a trading volume of 3,192,057 shares, compared to its average volume of 2,355,819. The company’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $6.52. Genius Sports has a 1-year low of $4.90 and a 1-year high of $10.15. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -23.39 and a beta of 1.98.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The business had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. During the same period in the previous year, the firm posted ($0.06) earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. As a group, analysts forecast that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several hedge funds have recently added to or reduced their stakes in GENI. SG Americas Securities LLC purchased a new stake in shares of Genius Sports during the 1st quarter worth approximately $119,000. Oppenheimer & Co. Inc. lifted its position in Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock valued at $467,000 after acquiring an additional 30,089 shares during the last quarter. MQS Management LLC acquired a new position in Genius Sports in the first quarter valued at $167,000. Silvercrest Asset Management Group LLC boosted its stake in Genius Sports by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company’s stock valued at $6,621,000 after acquiring an additional 50,482 shares in the last quarter. Finally, Levin Capital Strategies L.P. grew its holdings in shares of Genius Sports by 40.0% during the first quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock worth $200,000 after purchasing an additional 10,000 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

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.