Guggenheim Initiates Coverage on Genius Sports (NYSE:GENI)

Guggenheim initiated coverage on shares of Genius Sports (NYSE:GENI) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Guggenheim’s price objective would indicate a potential upside of 24.47% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Benchmark increased their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a research report on Monday, January 27th. B. Riley assumed coverage on shares of Genius Sports in a research report on Tuesday. They issued a “buy” rating for the company. Craig Hallum set a $15.00 target price on shares of Genius Sports in a research report on Tuesday, March 4th. Finally, Citigroup raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.23.

Genius Sports Stock Performance

NYSE:GENI opened at $9.64 on Tuesday. The company has a fifty day moving average of $9.12 and a two-hundred day moving average of $8.55. The stock has a market capitalization of $2.08 billion, a PE ratio of -30.13 and a beta of 2.14. Genius Sports has a fifty-two week low of $4.91 and a fifty-two week high of $10.33.

Genius Sports (NYSE:GENI) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.16). The company had revenue of $175.53 million for the quarter, compared to analyst estimates of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same quarter in the prior year, the company posted ($0.10) earnings per share. Research analysts forecast that Genius Sports will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Perigon Wealth Management LLC acquired a new position in Genius Sports during the 4th quarter worth approximately $136,000. D.A. Davidson & CO. grew its holdings in Genius Sports by 2.7% during the 4th quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock worth $464,000 after acquiring an additional 1,396 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Genius Sports during the 3rd quarter worth approximately $532,000. Allspring Global Investments Holdings LLC acquired a new position in Genius Sports during the 4th quarter worth approximately $11,292,000. Finally, Senvest Management LLC grew its holdings in Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after acquiring an additional 819,385 shares in the last quarter. Hedge funds and other 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.