Macquarie Issues Positive Forecast for Genius Sports (NYSE:GENI) Stock Price

Genius Sports (NYSE:GENI) had its price objective raised by Macquarie from $10.00 to $12.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on GENI. Needham & Company LLC restated a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday. The Goldman Sachs Group raised their price target on Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a research report on Friday, October 11th. Oppenheimer increased their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, B. Riley boosted their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Trading Down 3.0 %

Shares of GENI opened at $9.11 on Wednesday. Genius Sports has a 12 month low of $4.91 and a 12 month high of $10.15. The business’s fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $6.58. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -28.47 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, topping the consensus estimate of ($0.01) by $0.06. The company 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%. Genius Sports’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period last year, the company earned ($0.06) EPS. As a group, research analysts forecast that Genius Sports will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Genius Sports

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Genius Sports in the 1st quarter worth $119,000. Oppenheimer & Co. Inc. lifted its position in shares of Genius Sports by 58.2% in the first quarter. Oppenheimer & Co. Inc. now owns 81,770 shares of the company’s stock worth $467,000 after buying an additional 30,089 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Genius Sports in the first quarter worth about $167,000. Silvercrest Asset Management Group LLC boosted its stake in 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 valued at $6,621,000 after buying an additional 50,482 shares during the last quarter. Finally, Levin Capital Strategies L.P. grew its holdings in Genius Sports by 40.0% during the 1st quarter. Levin Capital Strategies L.P. now owns 35,000 shares of the company’s stock valued at $200,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors 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.