Genius Sports (NYSE:GENI) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Genius Sports (NYSE:GENI) announced its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.06, Briefing.com reports. Genius Sports had a negative net margin of 15.84% and a negative return on equity of 14.09%. The company 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 company earned ($0.06) EPS. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Genius Sports updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Genius Sports Stock Up 1.3 %

GENI opened at $9.59 on Thursday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -29.97 and a beta of 1.98. Genius Sports has a fifty-two week low of $4.90 and a fifty-two week high of $10.15. The company’s 50-day moving average price is $7.58 and its 200 day moving average price is $6.54.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. B. Riley upped their price target on shares of Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday. Benchmark upped their price target on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped 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. Finally, Macquarie boosted their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $10.25.

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.