Genius Sports (NYSE:GENI) Given Market Outperform Rating at JMP Securities

Genius Sports (NYSE:GENI)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $11.00 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 23.73% from the company’s previous close.

A number of other analysts also recently commented on GENI. Benchmark upped their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group raised their price objective on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citizens Jmp downgraded shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Genius Sports in a report on Tuesday, November 12th. Finally, Citigroup increased their target price on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.94.

Genius Sports Price Performance

NYSE:GENI traded up $0.17 during trading hours on Thursday, hitting $8.89. 537,835 shares of the company were exchanged, compared to its average volume of 2,674,156. The company’s 50 day moving average price is $9.04 and its 200-day moving average price is $7.74. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -27.78 and a beta of 2.15. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.33.

Genius Sports (NYSE:GENI) last released its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, equities analysts predict that Genius Sports will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Genius Sports by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock valued at $65,013,000 after acquiring an additional 230,209 shares during the period. Senvest Management LLC raised its holdings in shares of Genius Sports by 12.2% in the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock valued at $59,167,000 after purchasing an additional 819,385 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Genius Sports by 10.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,520,342 shares of the company’s stock worth $58,959,000 after purchasing an additional 691,539 shares during the last quarter. FMR LLC grew its stake in shares of Genius Sports by 53.2% during the third quarter. FMR LLC now owns 7,219,874 shares of the company’s stock worth $56,604,000 after purchasing an additional 2,507,165 shares in the last quarter. Finally, Portolan Capital Management LLC increased its holdings in Genius Sports by 9.4% in the third quarter. Portolan Capital Management LLC now owns 3,170,891 shares of the company’s stock valued at $24,860,000 after buying an additional 272,545 shares during the last quarter. Institutional investors and hedge funds own 81.91% of the company’s stock.

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.