The Goldman Sachs Group Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its target price lifted by The Goldman Sachs Group from $8.50 to $11.50 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also commented on GENI. B. Riley increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Benchmark boosted their target price on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday. Macquarie boosted their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $10.39.

Genius Sports Trading Down 3.2 %

Shares of NYSE:GENI traded down $0.30 during midday trading on Thursday, reaching $9.09. 3,365,035 shares of the company were exchanged, compared to its average volume of 2,388,439. The business’s fifty day moving average is $7.62 and its two-hundred day moving average is $6.56. Genius Sports has a one year low of $4.91 and a one year high of $10.15. The stock has a market cap of $2.09 billion, a PE ratio of -28.97 and a beta of 1.98.

Genius Sports (NYSE:GENI) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.11%. The business had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the business earned ($0.06) earnings per share. Genius Sports’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Genius Sports will post -0.2 EPS for the current year.

Institutional Trading of Genius Sports

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Genius Sports during the first quarter worth approximately $119,000. Oppenheimer & Co. Inc. grew its position in shares of Genius Sports by 58.2% during the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock worth $467,000 after acquiring an additional 30,089 shares during the last quarter. MQS Management LLC purchased a new position in shares of Genius Sports during the first quarter worth approximately $167,000. Silvercrest Asset Management Group LLC grew its position in shares of Genius Sports by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,159,465 shares of the company’s stock worth $6,621,000 after acquiring an additional 50,482 shares during the last quarter. Finally, Levin Capital Strategies L.P. grew its position 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 acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds 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.