Genius Sports’ (GENI) “Buy” Rating Reiterated at Benchmark

Genius Sports (NYSE:GENI)‘s stock had its “buy” rating reiterated by Benchmark in a research note issued on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. Benchmark’s price objective suggests a potential upside of 18.41% from the company’s current price.

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

Genius Sports Trading Up 6.1 %

Shares of GENI opened at $8.45 on Thursday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -21.65 and a beta of 1.96. The stock has a 50 day moving average of $7.21 and a 200 day moving average of $6.06. Genius Sports has a 12 month low of $4.62 and a 12 month high of $8.64.

Genius Sports (NYSE:GENI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). Genius Sports had a negative net margin of 21.93% and a negative return on equity of 15.30%. The business had revenue of $95.50 million for the quarter, compared to analysts’ expectations of $94.15 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

Several hedge funds have recently added to or reduced their stakes in GENI. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Genius Sports by 25.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,503,563 shares of the company’s stock worth $48,555,000 after buying an additional 1,702,602 shares during the period. Nikko Asset Management Americas Inc. boosted its position in shares of 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 purchasing an additional 1,702,602 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Genius Sports by 28.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after purchasing an additional 1,502,958 shares in the last quarter. Finally, Ophir Asset Management Pty Ltd bought a new stake in shares of Genius Sports in the 4th quarter worth approximately $21,961,000. 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.