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

Genius Sports Limited (NYSE:GENI) has been given an average rating of “Buy” by the ten analysts that are presently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.45.

A number of equities research analysts recently issued reports on GENI shares. The Goldman Sachs Group increased their price objective on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. B. Riley increased their price objective on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of Genius Sports in a research report on Tuesday, September 10th. Citigroup assumed coverage on Genius Sports in a research report on Thursday, June 13th. They set a “buy” rating and a $9.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $9.00 price target on shares of Genius Sports in a research report on Tuesday, August 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Genius Sports by 383.6% during the fourth quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock valued at $44,975,000 after buying an additional 5,772,540 shares during the last quarter. Ieq Capital LLC bought a new position in shares of Genius Sports during the fourth quarter valued at about $927,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Genius Sports by 25.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after buying an additional 1,702,602 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Genius Sports during the second quarter valued at about $5,521,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of 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 valued at $33,070,000 after buying an additional 919,980 shares during the last quarter. 81.91% of the stock is owned by institutional investors.

Genius Sports Price Performance

Genius Sports stock opened at $7.91 on Wednesday. Genius Sports has a one year low of $4.62 and a one year high of $8.15. The business has a fifty day moving average price of $6.95 and a 200-day moving average price of $6.01. The firm has a market capitalization of $1.81 billion, a P/E ratio of -20.28 and a beta of 1.96.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) 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 $95.50 million during the quarter, compared to analysts’ expectations of $94.15 million. During the same quarter last year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts expect that Genius Sports will post -0.2 earnings per share for the current fiscal year.

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.