Genius Sports (NYSE:GENI) Price Target Raised to $12.00 at B. Riley

Genius Sports (NYSE:GENI) had its price target lifted by research analysts at B. Riley from $10.00 to $12.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 27.80% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Benchmark increased their price target on shares of Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Macquarie upped their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Oppenheimer lifted their target price on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a report on Tuesday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Genius Sports presently has a consensus rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Performance

GENI opened at $9.39 on Wednesday. The company has a fifty day moving average price of $7.62 and a two-hundred day moving average price of $6.56. The firm has a market capitalization of $2.15 billion, a PE ratio of -29.34 and a beta of 1.98. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.15.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.09% and a negative net margin of 15.84%. The business had revenue of $120.20 million during the quarter, compared to analysts’ expectations of $118.94 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts forecast that Genius Sports will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. AYAL Capital Advisors Ltd bought a new stake in Genius Sports in the 2nd quarter valued at approximately $4,635,000. Rice Hall James & Associates LLC acquired a new position in Genius Sports during the second quarter worth $5,521,000. Hood River Capital Management LLC grew its position in Genius Sports by 6.0% in the second quarter. Hood River Capital Management LLC now owns 2,026,873 shares of the company’s stock valued at $11,046,000 after purchasing an additional 114,490 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Genius Sports in the 2nd quarter valued at $1,804,000. Finally, Bank of Montreal Can bought a new stake in Genius Sports during the 2nd quarter worth about $6,575,000. 81.91% of the stock is owned by institutional investors and hedge funds.

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.