Benchmark Reaffirms “Buy” Rating for Genius Sports (NYSE:GENI)

Benchmark restated their buy rating on shares of Genius Sports (NYSE:GENI) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $10.00 price target on the stock.

A number of other brokerages have also recently weighed in on GENI. The Goldman Sachs Group upped their price objective on Genius Sports from $7.50 to $8.50 and gave the stock a buy rating in a research note on Thursday, August 8th. Macquarie decreased their price target on shares of Genius Sports from $10.00 to $9.00 and set an outperform rating for the company in a research report on Thursday, July 18th. Needham & Company LLC restated a buy rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday, August 6th. Citigroup initiated coverage on shares of Genius Sports in a research note on Thursday, June 13th. They set a buy rating and a $9.00 price objective for the company. Finally, B. Riley raised their target price on shares of Genius Sports from $9.00 to $10.00 and gave the company a buy rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $9.45.

Genius Sports Stock Performance

NYSE GENI opened at $7.43 on Tuesday. Genius Sports has a one year low of $4.62 and a one year high of $8.15. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -19.04 and a beta of 1.96. The company’s 50-day simple moving average is $6.73 and its two-hundred day simple moving average is $5.98.

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 the consensus estimate of ($0.03) by ($0.06). The business had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. Equities analysts expect that Genius Sports will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Genius Sports by 383.6% in the 4th quarter. Wellington Management Group LLP now owns 7,277,462 shares of the company’s stock worth $44,975,000 after purchasing an additional 5,772,540 shares during the period. Ophir Asset Management Pty Ltd acquired a new position in shares of Genius Sports during the 4th quarter worth approximately $21,961,000. Divisadero Street Capital Management LP acquired a new stake in Genius Sports in the 2nd quarter valued at $11,233,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Genius Sports by 25.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock valued at $48,555,000 after acquiring an additional 1,702,602 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its holdings in Genius Sports by 25.0% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after acquiring an additional 1,702,602 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

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.