Genius Sports (NYSE:GENI) Posts Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Genius Sports (NYSE:GENI) posted its quarterly earnings results on Tuesday. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.25), MarketWatch Earnings reports. The company had revenue of $69.14 million for the quarter, compared to analyst estimates of $62.82 million. The business’s revenue for the quarter was up 70.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Genius Sports updated its FY 2021 guidance to EPS.

Shares of Genius Sports stock opened at $9.91 on Thursday. The company’s fifty day moving average price is $17.43 and its two-hundred day moving average price is $18.36. Genius Sports has a 52-week low of $9.06 and a 52-week high of $25.18.

Several analysts recently commented on the stock. Citigroup began coverage on shares of Genius Sports in a report on Monday, October 11th. They set a “buy” rating and a $22.00 price target for the company. UBS Group began coverage on shares of Genius Sports in a research note on Monday, October 11th. They issued a “neutral” rating and a $18.00 target price for the company. B. Riley reduced their target price on shares of Genius Sports from $32.00 to $23.00 and set a “buy” rating for the company in a research note on Wednesday. They noted that the move was a valuation call. Benchmark reduced their target price on shares of Genius Sports from $33.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Craig Hallum lifted their target price on shares of Genius Sports from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $24.11.

A hedge fund recently bought a new stake in Genius Sports stock. Wells Fargo & Company MN bought a new stake in Genius Sports Limited (NYSE:GENI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 49,132 shares of the company’s stock, valued at approximately $922,000. Institutional investors own 42.46% of the company’s stock.

About Genius Sports

Genius Sports Limited develops and sells 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 of 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 full suite of online and offline educational and consultancy services.

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