Genius Sports’ (GENI) “Market Outperform” Rating Reaffirmed at JMP Securities

Genius Sports (NYSE:GENI)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $11.00 price target on the stock. JMP Securities’ price objective points to a potential upside of 23.73% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their target price on shares of Genius Sports from $8.50 to $11.50 and gave the company a “buy” rating in a report on Thursday, November 14th. Oppenheimer increased their target price on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. B. Riley upped their price objective on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citizens Jmp lowered shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a report on Monday, January 6th. Finally, Benchmark raised their price target on shares of Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Genius Sports currently has an average rating of “Moderate Buy” and an average target price of $10.94.

Genius Sports Stock Performance

Shares of GENI stock traded up $0.17 during mid-day trading on Thursday, hitting $8.89. 537,835 shares of the stock were exchanged, compared to its average volume of 2,674,156. The stock’s fifty day simple moving average is $9.04 and its two-hundred day simple moving average is $7.74. Genius Sports has a 12-month low of $4.91 and a 12-month high of $10.33. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -27.78 and a beta of 2.15.

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

Institutional Investors Weigh In On Genius Sports

Several institutional investors and hedge funds have recently made changes to their positions in GENI. Massachusetts Financial Services Co. MA raised its stake in Genius Sports by 28.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,828,803 shares of the company’s stock worth $37,217,000 after acquiring an additional 1,502,958 shares during the period. Renaissance Technologies LLC boosted its position in shares of Genius Sports by 9.4% during the second quarter. Renaissance Technologies LLC now owns 390,000 shares of the company’s stock worth $2,126,000 after buying an additional 33,522 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in Genius Sports in the 2nd quarter worth approximately $67,000. XTX Topco Ltd acquired a new stake in Genius Sports in the 2nd quarter valued at approximately $120,000. Finally, Divisadero Street Capital Management LP bought a new stake in Genius Sports during the 2nd quarter valued at $11,233,000. 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.