Genius Sports Limited (NYSE:GENI) Receives Average Recommendation of “Buy” from Analysts

Genius Sports Limited (NYSE:GENI) has been assigned an average rating of “Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.25.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Genius Sports in a report on Tuesday, April 16th. They issued a “buy” rating and a $7.50 target price on the stock. Benchmark reiterated a “buy” rating and set a $10.00 target price on shares of Genius Sports in a research note on Thursday, March 7th. JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Genius Sports in a report on Thursday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $8.00 price objective on shares of Genius Sports in a research report on Monday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a research report on Wednesday, March 6th.

Genius Sports Stock Performance

NYSE:GENI opened at $5.39 on Thursday. Genius Sports has a 52-week low of $4.34 and a 52-week high of $8.45. The company has a market cap of $1.25 billion, a P/E ratio of -13.47 and a beta of 1.98. The stock’s 50-day simple moving average is $5.74 and its 200 day simple moving average is $5.89.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Wednesday, March 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). Genius Sports had a negative return on equity of 12.67% and a negative net margin of 20.71%. The company had revenue of $127.20 million for the quarter, compared to the consensus estimate of $126.53 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities analysts predict that Genius Sports will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Nikko Asset Management Americas Inc. lifted its position in Genius Sports by 25.0% during the first quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after purchasing an additional 1,702,602 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Genius Sports by 25.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after acquiring an additional 1,702,602 shares in the last quarter. Wellington Management Group LLP increased its stake in Genius Sports by 383.6% in the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after acquiring an additional 5,772,540 shares during the last quarter. ARK Investment Management LLC raised its position in Genius Sports by 9.9% during the fourth quarter. ARK Investment Management LLC now owns 6,914,013 shares of the company’s stock valued at $42,729,000 after purchasing an additional 620,472 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Genius Sports by 20.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,351,090 shares of the company’s stock worth $33,070,000 after purchasing an additional 919,980 shares during the last quarter. 81.91% of the stock is owned by 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.