Benchmark Forecasts Strong Price Appreciation for Genius Sports (NYSE:GENI) Stock

Genius Sports (NYSE:GENI) had its price target hoisted by research analysts at Benchmark from $10.00 to $11.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price would indicate a potential upside of 17.15% from the stock’s current price.

Other analysts have also issued reports about the company. Macquarie lifted their price target on Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group upped their target price on shares of Genius Sports from $7.50 to $8.50 and gave the stock a “buy” rating in a report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday. Oppenheimer boosted their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, B. Riley increased their price objective on shares of Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Genius Sports currently has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Performance

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

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GENI. Koss Olinger Consulting LLC purchased a new position in Genius Sports during the second quarter worth about $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Genius Sports during the 2nd quarter worth approximately $67,000. Sound Income Strategies LLC acquired a new stake in Genius Sports in the 3rd quarter valued at approximately $78,000. Arkadios Wealth Advisors purchased a new stake in Genius Sports in the third quarter valued at approximately $79,000. Finally, Captrust Financial Advisors acquired a new position in Genius Sports during the third quarter worth $84,000. 81.91% of the stock is currently owned by institutional investors and hedge funds.

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.