Genius Sports (NYSE:GENI) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Genius Sports (NYSE:GENI) in a research note released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $12.00 price target on the stock.

Several other equities analysts have also weighed in on GENI. Benchmark raised their target price on Genius Sports from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Macquarie raised their price objective on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of Genius Sports in a report on Monday, January 27th. B. Riley increased their price target on Genius Sports from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Citizens Jmp cut shares of Genius Sports from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.69.

Genius Sports Stock Performance

Shares of NYSE GENI opened at $9.29 on Tuesday. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -29.03 and a beta of 2.15. The business has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $8.42. Genius Sports has a 52 week low of $4.91 and a 52 week high of $10.33.

Genius Sports (NYSE:GENI) last posted its earnings results on Tuesday, March 4th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.16). The business had revenue of $175.53 million during the quarter, compared to the consensus estimate of $175.52 million. Genius Sports had a negative return on equity of 14.11% and a negative net margin of 15.84%. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, analysts predict that Genius Sports will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GENI. GSA Capital Partners LLP bought a new position in Genius Sports during the third quarter worth $532,000. Allspring Global Investments Holdings LLC acquired a new stake in Genius Sports in the 4th quarter worth $11,292,000. Senvest Management LLC increased its holdings in shares of Genius Sports by 12.2% during the 3rd quarter. Senvest Management LLC now owns 7,546,809 shares of the company’s stock worth $59,167,000 after purchasing an additional 819,385 shares during the period. D.A. Davidson & CO. raised its position in shares of Genius Sports by 2.7% during the fourth quarter. D.A. Davidson & CO. now owns 53,608 shares of the company’s stock valued at $464,000 after buying an additional 1,396 shares during the last quarter. Finally, Millrace Asset Group Inc. bought a new stake in shares of Genius Sports in the third quarter valued at about $1,897,000. 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.