Needham & Company LLC Reaffirms Buy Rating for Genius Sports (NYSE:GENI)

Needham & Company LLC reissued their buy rating on shares of Genius Sports (NYSE:GENI) in a research report report published on Tuesday,Benzinga reports. They currently have a $9.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group raised their target price on shares of Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research note on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Genius Sports in a research report on Friday, October 11th. B. Riley increased their target price on Genius Sports from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Macquarie cut their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Thursday, July 18th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $10.39.

Genius Sports Stock Down 3.0 %

Shares of GENI opened at $9.11 on Tuesday. Genius Sports has a 52-week low of $4.91 and a 52-week high of $10.15. The stock has a market cap of $2.09 billion, a PE ratio of -28.47 and a beta of 1.98. The firm’s fifty day moving average is $7.66 and its two-hundred day moving average is $6.58.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, November 12th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The firm had revenue of $120.20 million for the quarter, compared to analyst estimates of $118.94 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Genius Sports’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, research analysts anticipate that Genius Sports will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Genius Sports

A number of institutional investors have recently modified their holdings of GENI. M&T Bank Corp boosted its stake in shares of Genius Sports by 54.8% in the 3rd quarter. M&T Bank Corp now owns 136,536 shares of the company’s stock worth $1,070,000 after buying an additional 48,306 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Genius Sports in the third quarter valued at $299,000. Main Management ETF Advisors LLC bought a new stake in shares of Genius Sports during the third quarter valued at about $1,010,000. XTX Topco Ltd grew its position in shares of Genius Sports by 221.0% during the 3rd quarter. XTX Topco Ltd now owns 70,535 shares of the company’s stock valued at $553,000 after purchasing an additional 48,563 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Genius Sports by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 8,292,521 shares of the company’s stock worth $65,013,000 after acquiring an additional 230,209 shares during the last quarter. 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.