Needham & Company LLC Reiterates “Buy” Rating for Genius Sports (NYSE:GENI)

Needham & Company LLC restated their buy rating on shares of Genius Sports (NYSE:GENI) in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a $9.00 price target on the stock.

Several other research analysts have also commented on GENI. Macquarie cut their price objective on Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. B. Riley lifted their price target on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research report on Friday, October 11th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.39.

Genius Sports Trading Down 2.4 %

Genius Sports stock traded down $0.23 during midday trading on Tuesday, reaching $9.16. The stock had a trading volume of 1,324,595 shares, compared to its average volume of 2,379,893. The firm’s 50-day moving average price is $7.62 and its 200 day moving average price is $6.56. Genius Sports has a 12 month low of $4.91 and a 12 month high of $10.15.

Genius Sports (NYSE:GENI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.94 million. During the same quarter in the prior year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, research analysts anticipate that Genius Sports will post -0.2 EPS for the current year.

Institutional Trading of Genius Sports

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sound Income Strategies LLC bought a new position in shares of Genius Sports during the third quarter valued at about $78,000. Arkadios Wealth Advisors purchased a new position in Genius Sports during the 3rd quarter valued at about $79,000. Captrust Financial Advisors bought a new position in Genius Sports during the 3rd quarter valued at approximately $84,000. Koss Olinger Consulting LLC purchased a new stake in Genius Sports in the 2nd quarter worth approximately $64,000. Finally, Walleye Trading LLC grew its position in shares of Genius Sports by 169.9% in the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock worth $95,000 after buying an additional 29,555 shares during the last quarter. 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.