Genius Sports (NYSE:GENI) Reaches New 52-Week High – Here’s Why

Genius Sports Limited (NYSE:GENI)’s stock price hit a new 52-week high on Monday . The company traded as high as $10.17 and last traded at $10.17, with a volume of 4043 shares traded. The stock had previously closed at $10.04.

Analysts Set New Price Targets

GENI has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday, November 12th. Citigroup raised their price objective on shares of Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their target price on shares of Genius Sports from $8.50 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark raised 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, November 13th. Finally, Macquarie lifted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $10.72.

Genius Sports Trading Up 1.3 %

The stock has a market cap of $2.33 billion, a P/E ratio of -31.38 and a beta of 1.98. The company’s 50-day simple moving average is $8.00 and its 200 day simple moving average is $6.88.

Genius Sports (NYSE:GENI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.06. The firm had revenue of $120.20 million during the quarter, compared to the consensus estimate of $118.94 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Research analysts anticipate that Genius Sports Limited will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Genius Sports

Hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC bought a new position in Genius Sports in the 3rd quarter worth approximately $78,000. Arkadios Wealth Advisors purchased a new stake in shares of Genius Sports during the third quarter worth $79,000. Captrust Financial Advisors purchased a new position in shares of Genius Sports in the third quarter valued at $84,000. Koss Olinger Consulting LLC purchased a new position in shares of Genius Sports in the second quarter valued at $64,000. Finally, Walleye Trading LLC raised its stake in shares of Genius Sports by 169.9% during the 3rd quarter. Walleye Trading LLC now owns 12,155 shares of the company’s stock valued at $95,000 after purchasing an additional 29,555 shares during the period. Institutional investors own 81.91% of the company’s stock.

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.