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

Shares of Genius Sports Limited (NYSE:GENI) have earned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.33.

A number of brokerages have recently issued reports on GENI. The Goldman Sachs Group began coverage on shares of Genius Sports in a report on Tuesday, April 16th. They set a “buy” rating and a $7.50 price target on the stock. B. Riley began coverage on shares of Genius Sports in a report on Friday, April 5th. They issued a “buy” rating and a $9.00 price objective on the stock. Citigroup began coverage on shares of Genius Sports in a report on Thursday, June 13th. They issued a “buy” rating and a $9.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Thursday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $10.00 price objective on shares of Genius Sports in a report on Thursday, April 4th.

Genius Sports Stock Down 1.3 %

Shares of NYSE GENI opened at $5.35 on Friday. The firm’s 50-day moving average price is $5.29 and its 200-day moving average price is $5.89. The company has a market cap of $1.23 billion, a PE ratio of -13.72 and a beta of 1.96. Genius Sports has a 52-week low of $4.62 and a 52-week high of $8.45.

Genius Sports (NYSE:GENI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The company had revenue of $119.72 million for the quarter, compared to analysts’ expectations of $116.53 million. Genius Sports had a negative net margin of 19.73% and a negative return on equity of 12.98%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. As a group, equities research analysts anticipate that Genius Sports will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Genius Sports

Several large investors have recently added to or reduced their stakes in GENI. FMR LLC lifted its holdings in Genius Sports by 3.0% during the third quarter. FMR LLC now owns 1,563,038 shares of the company’s stock valued at $8,331,000 after purchasing an additional 44,800 shares in the last quarter. Algert Global LLC bought a new stake in shares of Genius Sports during the third quarter valued at approximately $68,000. MQS Management LLC bought a new stake in shares of Genius Sports during the third quarter valued at approximately $88,000. Trexquant Investment LP bought a new stake in shares of Genius Sports during the third quarter valued at approximately $1,366,000. Finally, Graham Capital Management L.P. raised its position in shares of Genius Sports by 116.3% during the third quarter. Graham Capital Management L.P. now owns 41,837 shares of the company’s stock valued at $223,000 after buying an additional 22,494 shares during the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Genius Sports

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.