Genius Sports (NYSE:GENI) Sets New 52-Week High After Strong Earnings

Genius Sports Limited (NYSE:GENI)’s stock price reached a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report. The company traded as high as $9.66 and last traded at $9.39, with a volume of 1994873 shares. The stock had previously closed at $8.08.

The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06. Genius Sports had a negative return on equity of 14.09% and a negative net margin of 15.84%. The company had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several research analysts have commented on GENI shares. B. Riley raised their target price on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark raised their target price on Genius Sports from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on Genius Sports from $7.50 to $8.50 and gave the company a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 price target on shares of Genius Sports in a research note on Tuesday. Finally, Oppenheimer lifted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Genius Sports has a consensus rating of “Buy” and an average target price of $10.25.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GENI. Sound Income Strategies LLC bought a new stake in Genius Sports during the 3rd quarter valued at approximately $78,000. Arkadios Wealth Advisors purchased a new position in Genius Sports during the 3rd quarter valued at approximately $79,000. Koss Olinger Consulting LLC purchased a new position in Genius Sports during the 2nd quarter valued at approximately $64,000. Vanguard Personalized Indexing Management LLC purchased a new position in Genius Sports during the 2nd quarter valued at approximately $67,000. Finally, Fullcircle Wealth LLC purchased a new position in Genius Sports during the 3rd quarter valued at approximately $118,000. Institutional investors own 81.91% of the company’s stock.

Genius Sports Stock Performance

The stock has a market cap of $2.20 billion, a PE ratio of -29.97 and a beta of 1.98. The stock has a fifty day moving average price of $7.58 and a 200 day moving average price of $6.54.

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.