Genius Sports Limited (NYSE:GENI) Receives Average Recommendation of “Buy” from Brokerages

Shares of Genius Sports Limited (NYSE:GENI) have received an average rating of “Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $10.72.

GENI has been the topic of a number of research analyst reports. Oppenheimer increased their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Benchmark raised their price objective on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of Genius Sports in a research report on Tuesday, November 12th. B. Riley lifted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup upped their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th.

Genius Sports Stock Performance

Shares of GENI opened at $10.04 on Monday. The firm has a market cap of $2.30 billion, a PE ratio of -31.38 and a beta of 1.98. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.15. The business’s 50 day moving average price is $8.00 and its two-hundred day moving average price is $6.88.

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

Institutional Investors Weigh In On Genius Sports

Institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in shares of Genius Sports in the 3rd quarter worth approximately $371,000. Sanctuary Advisors LLC purchased a new position in Genius Sports in the third quarter worth $221,000. M&T Bank Corp grew its stake in Genius Sports by 54.8% in the 3rd quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock valued at $1,070,000 after purchasing an additional 48,306 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Genius Sports during the 3rd quarter valued at $299,000. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Genius Sports during the 3rd quarter worth $1,010,000. 81.91% of the stock is owned by 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.